Tennessee

Foreclosure Posting Requirements

Tennessee is a non-judicial foreclosure state. Judicial foreclosures are uncommon and often cause delays due to the
unfamiliarity of the Tennessee courts with the judicial foreclosure process. Tennessee most commonly uses a deed
of trust to secure real property. The deed of trust names a trustee, who holds its legal title to the property and is
authorized by the security instrument to commence default proceedings. Foreclosure proceedings may be initiated
(pursuant to the power of sale provisions from the deed of trust) upon receipt of the minimum of the recorded deed
of trust and a current payoff and per diem; however, a referral package containing copies of the note, deed of trust,
any assignments of the deed of trust and the title policy is preferable. When default occurs in payment or any other
terms or conditions required by the deed of trust, the trustee are empowered to advertise the property for sale. The
non-judicial process provides that advertisements must appear three times in a newspaper regularly published in the
county where the sale is to take place. The first publication must be at least 20 days prior to the sale date. The deed
of trust may contain additional notice or sale requirements. The statue requires that the notice contain the name so
if the parties interested, a description of the land and the time and place of the sale. Pursuant to the statute, the sale
must be held between the hours of 10:00 a.m. and 4:00 p.m. A copy of the notice of sale must be sent to the
mortgagors on or before the first date of publication by certified mail, return receipt requested. Said notice must be
mailed to the property address and the last known address of the mortgagor, or other such address provided by the
mortgagor at least 30 days prior to the publication date, but only if such address is different from the address of the
property. The average length of time to complete a non-judicial foreclosure sale in Tennessee is 60 days. After the
foreclosure sale, title is transferred by trustee’s deed to the highest bidder at foreclosure sale.

Foreclosure Auction Locations

Most states direct the specific location where a sheriff, trustee or creditor may conduct a foreclosure sale. Often the
direction is as vague as “any public place within the county in which the property is located.” Other times, the
statute requires that a foreclosure sale only be held at the site of the property to be foreclosed. Foreclosure sales can
be conducted as indicated in the Notice of Sale.

Foreclosure Timeline:

(Timeline is for non-judicial foreclosures. Intervals are optimal and assumes no delays.)