Changes to Redemption Period for Tax-Sold Properties
This proposed bill would change how long property owners have to redeem their properties after a tax sale in Tennessee. Before this change, the redemption period was uniform regardless of how long taxes were delinquent. If passed, the new law would set different redemption periods based on whether the property's delinquency lasted three years or less, or more than three years. This affects property owners who have fallen behind on their real estate taxes and are facing a tax sale. The exact effective date is not specified.
The previous version of the law did not differentiate redemption periods based on the length of tax delinquency.
This proposed bill would change how long property owners have to redeem their properties after a tax sale in Tennessee. Before this change, the redemption period was uniform regardless of how long taxes were delinquent. If passed, the new law would set different redemption periods based on whether the property's delinquency lasted three years or less, or more than three years. This affects property owners who have fallen behind on their real estate taxes and are facing a tax sale. The exact effective date is not specified.