What Amount do I have to pay in order to redeem my property after a tax sale?
19-Oct-2009
In Home Funds Direct v. Garrett, 34 TAM 24-4 (Tenn. App., May 5, 2009), the Court of Appeals held that the Owner (delinquent tax payer) only had to deposit the amount of the bid at the tax sale, plus interest on the purchase price to redeem their property. The Court held that the tax sale purchasers were due to be reimbursed for the subsequent taxes that they had paid. However, the Court determined that this should be taken care of after the redemption and not as part of the redemption.
Stay tuned next week for more information.
In Home Funds Direct v. Garrett, 34 TAM 24-4 (Tenn. App., May 5, 2009), the Court of Appeals held that the Owner (delinquent tax payer) only had to deposit the amount of the bid at the tax sale, plus interest on the purchase price to redeem their property. The Court held that the tax sale purchasers were due to be reimbursed for the subsequent taxes that they had paid. However, the Court determined that this should be taken care of after the redemption and not as part of the redemption.
Stay tuned next week for more information.
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