An affidavit is statement of facts which is sworn to before an officer who has authority to administer an oath (e.g., a notary public). The person making the signed statement (the affiant) takes an oath that the contents are, to the best of their knowledge, true. It is also signed by a notary or some other judicial officer that can administer oaths, affirming that the person signing the affidavit was under oath when doing so. After a foreclosure sale, some states require that the foreclosing party file an affidavit that the provisions relating to the notice of foreclosure and the deed of trust or mortgage have been complied with.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Description of Tennessee Affidavit of Sale By Foreclosure: The Tennessee Affidavit of Sale By Foreclosure is a legal document that certifies the completion of a foreclosure sale in the state of Tennessee. This affidavit is filed by the mortgage lender or its representative to document the sale proceedings and provide evidence of the property's transfer of ownership. Keywords: Tennessee, Affidavit of Sale By Foreclosure, foreclosure sale, legal document, mortgage lender, property transfer, ownership. Types of Tennessee Affidavit of Sale By Foreclosure: 1. Standard Tennessee Affidavit of Sale By Foreclosure: This is the most common type of affidavit used in Tennessee to record the sale of a foreclosed property. It includes details such as the name of the mortgagor, the lender's information, the property description, the foreclosure date, and the sale price. 2. Affidavit of Sale By Foreclosure with Deficiency Judgment: In some cases, the foreclosure sale proceeds might not cover the full outstanding balance of the mortgage loan. To pursue the remaining debt, the lender may file an affidavit with a deficiency judgment clause. This type of affidavit ensures that the lender can seek further collection efforts from the borrower to recover the shortfall. 3. Affidavit of Sale By Foreclosure with Surplus Proceeds: When the foreclosure sale results in a surplus, meaning the sale price exceeds the outstanding loan balance and associated costs, the lender may file an affidavit to document the surplus proceeds. This affidavit allows the lender to distribute the excess funds to other lien holders or parties with legal claims on the property. 4. Affidavit of Sale By Foreclosure of Tax Liens: In cases where the foreclosure is initiated due to unpaid property taxes, an affidavit specifically addressing tax liens is required. This affidavit will detail the delinquent tax amounts, the efforts made to collect the taxes, and the property's sale to satisfy the outstanding tax liability. 5. Affidavit of Sale By Foreclosure of Mechanic's Liens: If the foreclosure sale is a result of unpaid debts to contractors, subcontractors, or laborers who performed work on the property, an affidavit specific to mechanic's liens may be necessary. This affidavit outlines the outstanding amounts owed, the efforts made to collect these debts, and the property's sale to compensate the lien holders. Keywords: Standard, Deficiency Judgment, Surplus Proceeds, Tax Liens, Mechanic's Liens, foreclosure sale, property taxes, delinquent, outstanding debts.Description of Tennessee Affidavit of Sale By Foreclosure: The Tennessee Affidavit of Sale By Foreclosure is a legal document that certifies the completion of a foreclosure sale in the state of Tennessee. This affidavit is filed by the mortgage lender or its representative to document the sale proceedings and provide evidence of the property's transfer of ownership. Keywords: Tennessee, Affidavit of Sale By Foreclosure, foreclosure sale, legal document, mortgage lender, property transfer, ownership. Types of Tennessee Affidavit of Sale By Foreclosure: 1. Standard Tennessee Affidavit of Sale By Foreclosure: This is the most common type of affidavit used in Tennessee to record the sale of a foreclosed property. It includes details such as the name of the mortgagor, the lender's information, the property description, the foreclosure date, and the sale price. 2. Affidavit of Sale By Foreclosure with Deficiency Judgment: In some cases, the foreclosure sale proceeds might not cover the full outstanding balance of the mortgage loan. To pursue the remaining debt, the lender may file an affidavit with a deficiency judgment clause. This type of affidavit ensures that the lender can seek further collection efforts from the borrower to recover the shortfall. 3. Affidavit of Sale By Foreclosure with Surplus Proceeds: When the foreclosure sale results in a surplus, meaning the sale price exceeds the outstanding loan balance and associated costs, the lender may file an affidavit to document the surplus proceeds. This affidavit allows the lender to distribute the excess funds to other lien holders or parties with legal claims on the property. 4. Affidavit of Sale By Foreclosure of Tax Liens: In cases where the foreclosure is initiated due to unpaid property taxes, an affidavit specifically addressing tax liens is required. This affidavit will detail the delinquent tax amounts, the efforts made to collect the taxes, and the property's sale to satisfy the outstanding tax liability. 5. Affidavit of Sale By Foreclosure of Mechanic's Liens: If the foreclosure sale is a result of unpaid debts to contractors, subcontractors, or laborers who performed work on the property, an affidavit specific to mechanic's liens may be necessary. This affidavit outlines the outstanding amounts owed, the efforts made to collect these debts, and the property's sale to compensate the lien holders. Keywords: Standard, Deficiency Judgment, Surplus Proceeds, Tax Liens, Mechanic's Liens, foreclosure sale, property taxes, delinquent, outstanding debts.
