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