Tennessee Foreclosure Laws - Foreclosures in Tennessee

Tennessee Foreclosure Laws

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Tennessee Foreclosure is Non-Judicial.

Tennessee Foreclosure Sale

Where, upon the foreclosure of a mortgage or deed of trust, or in any case, the specified land to be sold is mentioned in the decree, the court, upon the application of the complainant, may order that:

(1) The property be sold on a credit of not less than six (6) months nor more than two (2) years.

(2) When the Tennessee foreclosure sale is made, and reported and confirmed, no right of redemption or repurchase shall exist in the debtor or the debtor's creditors, but that the purchaser's title shall be absolute.

(3) The surplus of the purchase money, or the bonds or notes taken therefore, over and above what is necessary to pay the complainant's debt, be paid to the debtor or the debtor's other creditors entitled to the same.

Twenty Days' Notice by Publication before Tennessee Foreclosure Sale.

Tennessee foreclosure law states that:
(a) In any sale of land to foreclose a deed of trust, mortgage or other lien securing the payment of money or other thing of value or under judicial orders or process, advertisement of such sale shall be made at least three (3) different times in some newspaper published in the county where the sale is to be made.

(b) The first publication shall be at least twenty (20) days previous to the sale.

(c) The provisions of this section shall not apply where the amount of indebtedness for the payment of which the property being sold does not amount to more than two hundred dollars ($200), in which event the owner of the property may order that advertisement be made by written notices posted, instead of by notices published in a newspaper.

(d) Nothing in this section shall be construed as applying to any notice published in accordance with any contract entered into heretofore, and expressed in a mortgage, deed of trust or other legal instruments.

(e) If no newspaper is published in the county in which the land is to be sold, the advertisement in a newspaper is dispensed with, unless ordered by court.

Posting written notices for Tennessee Foreclosure Auction

Tennessee foreclosure law states that whenever the advertisement cannot be made in a newspaper, the officer shall make publication of the sale for thirty (30) days by written notices posted in at least five (5) of the most public places in the county, one (1) of which shall be the courthouse door, and another in the neighborhood of the defendant; if of realty, in the civil district where the land lies.

Contents of Advertisement or Notice

The advertisement or notice shall:
(1) Give the names of the plaintiff and defendant, or parties interested

(2) Describe the land in brief terms, including the street address if available

(3) Mention the time and place of sale

Time of Tennessee Foreclosure Sale

The Tennessee Foreclosure sale in all these cases shall be made between the hours of ten o'clock a.m. (10:00 a.m.) and four o'clock p.m. (4:00 p.m.) of the day fixed in the notice or advertisement.

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