Bill > HB1127

This bill modifies Tennessee's foreclosure notice requirements by extending the notification timeline and updating online advertising procedures for property foreclosures. Specifically, the bill increases the time prior to a property sale from 10 to 12 business days that a substitute trustee must send notice to the debtor, co-debtor, and other interested parties when the trustee's name was not included in the initial sale advertisement. The bill mandates that foreclosure sales must be advertised both in a local newspaper (at least two times) and online through a third-party internet posting company for 20 continuous days. The legislation requires notices to be sent via registered or certified mail to the property's mailing address and the last known mailing address of the debtor or co-debtor. Additionally, the bill introduces new requirements for third-party internet posting companies, including submitting their website address to the secretary of state's office and maintaining publicly viewable postings. The bill also provides guidelines for postponing or rescheduling foreclosure sales, such as limiting postponements to within one year of the original sale date and requiring additional notice for postponements longer than 30 days. The changes will take effect on July 1, 2025.

Justice

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1127&ga=114