Legal Tip of the Week
Escrow Account
An escrow account contains funds held by a lender for future payment of property taxes and applicable insurance, such as homeowner /hazard insurance, flood insurance, and/or mortgage.
Tennessee Property Tax Sales
Under Tennessee law, county and city real property taxes are a first and best lien on the real estate taxed.
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What Is Tax Proration?
How Do They Affect Me?
Most real estate contracts contain provisions relating to proration, whether to prorate taxes or homeowner association fees.
How Are My Property Taxes Calculated in Tennessee?
County assessors of property appraise real estate for assessment purposes. The county commission and city governing bodies determine local property tax rates.
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