Bill > SB0727

This bill amends Tennessee's foreclosure notice regulations by expanding and clarifying the requirements for advertising and notifying debtors about property sales. Specifically, the bill mandates that foreclosure sales must be advertised both in a local newspaper (at least twice) and online through a third-party internet posting company for at least 20 continuous days, with the initial newspaper publication occurring at least 20 days before the sale. The bill requires trustees or selling parties to send notice to debtors and co-debtors via registered or certified mail, using specific mailing addresses, including the property's address and the last known address of the debtor or co-debtor. The bill also introduces provisions for postponing or adjourning sales, allowing sales to be rescheduled within one year of the original date with certain notification requirements. Additionally, the legislation requires third-party internet posting companies to submit their website addresses to the secretary of state's office and creates guidelines for online sale notifications. These changes aim to provide more transparency and ensure that debtors receive adequate notice about potential property sales, giving them more time and information to respond to foreclosure proceedings.

Business and Industry, Justice

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0727&ga=114