Tenn. Code § 68-205-109

Current through Acts 2023-2024, ch. 1069
Section 68-205-109 - Filing and recording of notice of assessment, C-PACER lien, and assignments - Segregation of funds
(a) A local government that authorizes financing through special assessments under this chapter shall:
(1) File a written Notice of Assessment and C-PACER lien in the records of the office of the county register of deeds of the county in which the property is located. The notice must contain:
(A) The amount of the assessment;
(B) The legal description of the property;
(C) The name of each property owner;
(D) A copy of the written assessment contract; and
(E) A reference to this section authorizing the placement of the assessment and C-PACER lien on the property;
(2) File and record each C-PACER lien in the real property records of the county in which the property is located. The recording must contain:
(A) The legal description of the eligible property;
(B) The name of each property owner;
(C) The date on which the lien was created;
(D) The principal amount of the lien; and
(E) The term of the lien; and
(3) Record the executed assignment of the assessment agreement, notice of assignment of assessment, and C-PACER lien, or may delegate the recording to the capital provider receiving the assignment.
(b) The amount of funds allotted through a program must be segregated from the calculation of the undisputed portions necessary for property tax appeals under title 67, chapter 5.

T.C.A. § 68-205-109

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