Rules & Regulations of the State of Tennessee
Title 1320 - Revenue
Subtitle 1320-02 - Collections Division
Chapter 1320-02-01 - Tax Enforcement Procedures Act
Section 1320-02-01-.36 - REDEMPTION OF PROPERTY BY THE STATE

(1) In the case of a nonjudicial sale of real property to which T.C.A. § 67-1-1433(b) applies, which was made to satisfy a lien prior to that of the state, the Commissioner or his delegate may redeem such property within the period allowable for redemption of real property with respect to other secured creditors. The right of redemption of the state exists under this section even though the Commissioner or his delegate has consented to the sale under T.C.A. § 67-1-1433(b)(2)(B).

(2) In any case in which the state redeems real property pursuant to subsection (1) hereinabove, the amount to be paid for such property shall be the amount paid by the purchaser plus interest at the rate allowed by the Tax Enforcement Procedures Act from the date of purchase to the date of redemption. In the case of a purchaser who is the holder of the lien being foreclosed, the amount paid by the state shall be considered to be the amount of the obligation secured by such lien to the extent legally satisfied by reason of the sale.