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Current as of January 02, 2024 | Updated by Findlaw Staff
(a) Any mortgage, deed of trust, or other instrument executed by a cooperative which, by its terms, creates a lien upon real and personal property, then owned or after-acquired, and which is recorded as a mortgage of real property in any county in which such property is located or is to be located, shall have the same force and effect as if the mortgage, deed of trust, or other instrument were also recorded or filed in the proper office in such county as a mortgage of personal property.
(b) Recordation of any such mortgage, deed of trust, or other instrument shall cause the lien thereof to attach to all after-acquired property of the mortgagor of the nature therein described as being mortgaged or pledged thereby immediately upon the acquisition of such property by the mortgagor, and such lien shall be superior to all claims of creditors of the mortgagor and purchasers of such property and to all other liens, except liens of prior record and tax liens, affecting such property.
Cite this article: FindLaw.com - Tennessee Code Title 65. Public Utilities and Carriers § 65-25-116 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-65-public-utilities-and-carriers/tn-code-sect-65-25-116/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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