54-12-418 - Sale for cash subject to redemption within two years Manner of redemption. - Tennessee Statutes

54-12-418. Sale for cash subject to redemption within two years Manner of redemption.

When the sale is made by decree of the chancery court, it shall be made for cash, and the owners of land sold shall have two (2) years from the date of the confirmation of the sale in which to redeem the land, by paying to the clerk and master of the court making the sale, the amount paid by the purchaser for the land, with legal interest on the amount to the date of redemption, and also a further sum equal to ten percent (10%) of the amount paid by the purchaser for the land.

[Acts 1919, ch. 193, § 100; Shan. Supp., § 1682a114; Code 1932, § 2929; T.C.A. (orig. ed.), § 54-1618.]