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Current as of January 02, 2024 | Updated by Findlaw Staff
(a) Except as otherwise provided in subsection (e), a special assessment that complies with § 68-205-103, and any interest or penalties on the assessment:
(1) Is a first and prior lien against the commercial property on which the assessment is imposed, from the date on which the notice of special assessment is recorded pursuant to § 68-205-109, until the assessment, interest, or penalty is paid; and
(2) Has the same priority status as a lien for any other ad valorem tax.
(b) The lien runs with the land, and that portion of the assessment under the assessment contract that is not yet due must not be accelerated or eliminated by foreclosure of a property tax lien.
(c) A provision of a deed of trust, mortgage, or other agreement between a lienholder and a property owner providing for the acceleration of any payment under the deed of trust, mortgage, or agreement solely as the result of entering into an agreement to finance an assessment is unenforceable; provided, that the conditions set forth under § 68-205-103 are satisfied.
Cite this article: FindLaw.com - Tennessee Code Title 68. Health, Safety and Environmental Protection § 68-205-110 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-68-health-safety-and-environmental-protection/tn-code-sect-68-205-110/
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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