29-17-1003 - Transfer of land acquired by eminent domain. - Tennessee Statutes

29-17-1003. Transfer of land acquired by eminent domain.

(a)  Land acquired by eminent domain that the acquiring entity seeks to dispose of may be sold, leased or otherwise transferred to another public or quasi-public entity or to a private person, corporation or other entity; provided, that the entity transferring the land receives at least fair market value for the land.

(b)  Nothing in this section shall be construed to apply to or affect the disposal of the state's surplus interests in real property pursuant to § 12-2-112.

[Acts 2006, ch. 863, §§ 1, 4.]