Tennessee Redemption Deeds
| Sale Type: | Redeemable Tax Deed |
| Interest Rate: | 10% |
| Bid Method: | Premium Bid |
| Redemption Period: | 1 Year |
| Sale Date(s): | Varies |
| State Statute(s): | Title 67 |
| Over-the-Counter: | Yes – County Surplus Property |
| State Website: | tennessee.gov |
Tennessee State Overview:
Tennessee is a state that is a little different than most deed states because it is a redeemable deed state. One thing that an investor can do once he has won the Tennessee tax deed is to apply for an immediate writ of possession. If the writ is approved, the tax deed purchaser can collect rent on the property for the first year or until the deed is redeemed. This has been proven to be a very lucrative action. There is a one year redemption period for the State of Tennesee.
This annual 10 percent interest rate is simple interest. The 10 percent interest rate is added to any surplus or overbid along with the full amount of the tax deed price paid by the investor.
The highest bidder is the one that is willing to pay the most for each of the tax deeds. All fees, penalties, and administrative costs are included with the opening bid.
The tax deed buyer can take possession to the tax deed one year after the winning bid.