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Tenn. Code Ann. § 26-2-309

Sale and reinvestment of exempt proceeds

Known as the Personal Property Owner's Rights and Garnishment Act

The act spans §§ 26-2-101 to 26-2-410 (62 sections).

Acts 1870, ch. 80, § 4; Shan., § 3805; Code 1932, § 7726; impl. am

When the real estate levied on is of greater value than five thousand dollars ($5,000), and is so situated that it cannot be divided so as to set apart the homestead, the freeholders shall certify the fact, and the officer may proceed to sell the whole tract, and out of the proceeds the officer shall pay to the clerk of the court rendering the judgment, or condemning the land for sale, five thousand dollars ($5,000), to be invested under the order of the court, in the purchase of a homestead for the debtor, and only the surplus over and above five thousand dollars ($5,000) shall be applied to the payment of the execution.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.