All the rights, privileges, and immunities appertaining to the franchises sold under judicial proceedings instituted against delinquent railroads by the state, under the act of incorporation and the amendments thereto, and the general internal improvement law of the state, and acts amendatory thereof, shall be transferred to, and vest in, the purchaser.
Rights of purchase under judicial sale
Tenn. Code Ann. § 65-8-105, under Purchase and Sale of Railroads.
Tenn. Code Ann. § 65-8-105