Plain English Breakdown
Checked against official source text during the last sync.
Changing Proof Requirements for Foreclosure Sales
This bill changes the evidence needed to prove that a foreclosure sale price was unfair.
What This Bill Does
- Changes the type of proof required when someone tries to show that a property sold at a foreclosure sale was not worth what it was sold for.
- Requires people who think a foreclosure sale price is too low to provide stronger evidence, called 'clear and convincing evidence'.
- Modifies Tennessee law about how much proof is needed in certain legal cases involving foreclosures.
Who It Names or Affects
- People who buy or sell property at foreclosure sales.
- Lawyers involved in foreclosure cases.
Terms To Know
- preponderance of the evidence
- The amount of proof needed to show something is more likely true than not true.
- clear and convincing evidence
- A higher level of proof that shows something is highly probable or certain.
Limits and Unknowns
- Does not say how the change will affect past foreclosure sales.
- The bill does not explain what happens if someone cannot provide 'clear and convincing evidence'.