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Tennessee Tax Deed Sales - (TN)
Written by: Kevin Zimmerman
The state of Tennessee does not hold any tax lien certificate sales. However, Tennessee does conduct tax deed sales. A review of relevant tax deed sales information indicates that Tennessee can be considered a fairly good state for tax deeds.
An Overview of Tennessee Tax Deed Sales
Tennessee does not hold tax lien certificate sales, so there is not an associated interest rate. However, the state does conduct tax deed sales with a 1 year right of redemption. A plus of Tennessee's tax deed sales is that there is a 10% right of redemption fee associated with tax sale properties. Auctions are held annually.
The dates, rules, and times of Tennessee tax deed sales are determined by the Clerk and Master of the Chancery Court.
Tennessee Tax Sales Bidding Process
All tax sales held in Tennessee are held via a competitive bidding process. The opening bid for Tennessee properties starts at the amount of taxes due plus the penalties and court costs. The property owner has up to a year to redeem the property but has to pay 10% interest back to the investor in order to reclaim the land.
Overall, Tennessee can be considered a good state for tax deeds investing.