67-5-2511 - Ledger of property purchased by state or political subdivision.
67-5-2511. Ledger of property purchased by state or political subdivision.
(a) The county trustee and all municipal collectors are likewise authorized and directed to set up a ledger of all properties sold at a tax sale and purchased by the state, or by a county, or by a municipality, or by a county and municipality, possession of which has been taken by one (1) or more of them.
(b) The ledger shall consist of a well-bound book, properly indexed, containing a sheet or page for each parcel of land, upon which page the taxes for which the property was sold shall be listed, year by year, without the addition of any interest or penalties.
(c) As to each item of tax entered on the ledger, a reference shall be made to the tax roll, showing the book and page from which the item was taken, and on the ledger page shall be also entered the net amount of rents received, or the net sale price thereof, and the distribution of such rents and sale price.
[Acts 1943, ch. 18, § 2; C. Supp. 1950, § 1592.4; T.C.A. (orig. ed.), § 67-2040.]