Tennessee § 21-1-803 Foreclosure sale

Tennessee Statutes

§ 21-1-803 — Foreclosure sale

Tennessee § 21-1-803

Title21

This text of Tennessee § 21-1-803 (Foreclosure sale) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 21-1-803 (2026).

Text

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 sale is made, 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; and (3) The surplus of the purchase money, or the bonds or notes taken for the purchase money, 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 payment.

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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 sale is made, 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; and (3) The surplus of the purchase money, or the bonds or notes taken for the purchase money, 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 payment.

Legislative History

Code 1858, § 4489 (deriv. Acts 1832, ch. 36, § 2; 1833, ch. 47, § 2; 1837-1838, ch. 166, § 2); Shan., § 6306; Code 1932, § 10599; T.C.A. (orig. ed.), § 21-1208.