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IN RE UNITED AMERICAN FINANCIAL CORP.

Bankruptcy No. 3-83-00744, Adv. No. 3-85-1048.

53 B.R. 43 (1985)

In re UNITED AMERICAN FINANCIAL CORPORATION, Debtor. UNITED AMERICAN FINANCIAL CORPORATION, Plaintiff, v. FIRST HERITAGE NATIONAL BANK OF LOUDON COUNTY, TENNESSEE and Bernie R. Swiney, Trustee, Defendants.

United States Bankruptcy Court, E.D. Tennessee.

August 22, 1985.

Attorney(s) appearing for the Case

Bernstein, Susano, Stair & Cohen, Doris C. Allen, Knoxville, Tenn., for plaintiff.

Fowler & Gibson, A. Wayne Henry, Loudon, Tenn., for defendants.

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

At issue is whether the proceeds from property sold under a deed of trust power of sale were properly applied to extinguish a first lien for property taxes. Tenn.Code Ann. § 67-5-2101 (1983). Plaintiff contends that, as a matter of Tennessee law, a purchaser at a foreclosure sale takes subject to tax liens unless expressly and specifically stated otherwise in either the foreclosure notice or at the foreclosure...

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