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RULE 67. DEPOSIT IN COURT

July 25, 2011

RULE 67.01: IN AN ACTION.

In an action in which any part of the relief sought is a judgment for a sum of money or the disposition of a sum of money or the disposition of any other thing capable of delivery, a party upon notice to every other party and by leave of court may deposit with the court all or any part of such sum or thing.

RULE 67.02: COURT MAY ORDER DEPOSIT OR SEIZURE OF PROPERTY.

When it is admitted by the pleading or examination of a party that the party had in his or her possession or control any money or other thing capable of delivery which is the subject of the litigation and which is being held by the party as trustee for another party, or which belongs or is due to another party, the court may order the same to be deposited in court or delivered to such other party, with or without security, subject to further orders of the court, and the court may require the sheriff or other proper officer to take the money or property and deposit it or deliver it in accordance with the orders of the court.

RULE 67.03: MONEY PAID INTO COURT.

Where money is paid into court to abide the result of any legal proceeding, the judge may order it deposited in a designated state or national bank or savings and loan institution, to the credit of the court in the action or proceeding in which the money was paid. The money so deposited, with interest if any, shall be disbursed only upon the check of the clerk of the court pursuant to order of the court and in favor of the person to whom the order directs the payment to be made. Upon making a deposit in court a party shall not be liable for further interest on the sum deposited.

RULE 67.04: POST-JUDGMENT INTEREST.

This rule is inapplicable to post-judgment interest. [As amended by order effective July 1, 1998.]
Advisory Commission Comments [1998]. The losing defendant cannot avoid the 10% interest rate under T.C.A. §47-14-222 by depositing the verdict amount into the trial court clerk’s office.

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