§ 68-205-110 — Special assessment lien

(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.

Legislative History

Added by 2021 Tenn. Acts, ch. 138, s 1, eff. 7/1/2021.