{"data":{"id":"us-tn/tenn.-code-ann.-29-27-311","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 29-27-311","heading":"Report of open-market sale","body":"(a) Unless required to do so within a shorter time by part 2 of this chapter or by the court in the court's discretion, a broker appointed under § 29-27-310(b) to offer heirs property for open-market sale shall file a report with the court and serve a copy on all parties no later than seven (7) days after receiving an offer to purchase the property for at least the value determined under § 29-27-306 or § 29-27-310 . (b) The report required by subsection (a) must contain the following information: (1) A description of the property to be sold to each buyer; (2) The name of each buyer; (3) The proposed purchase price; (4) The terms and conditions of the proposed sale, including the terms of any owner financing; (5) The amounts to be paid to lienholders; (6) A statement of contractual or other arrangements or conditions of the broker's commission; and (7) Other material facts relevant to the sale. Added by 2022 Tenn. Acts, ch. 1109, s 1, eff. 7/1/2022.\n(a) Unless required to do so within a shorter time by part 2 of this chapter or by the court in the court's discretion, a broker appointed under § 29-27-310(b) to offer heirs property for open-market sale shall file a report with the court and serve a copy on all parties no later than seven (7) days after receiving an offer to purchase the property for at least the value determined under § 29-27-306 or § 29-27-310 .\n(b) The report required by subsection (a) must contain the following information: (1) A description of the property to be sold to each buyer; (2) The name of each buyer; (3) The proposed purchase price; (4) The terms and conditions of the proposed sale, including the terms of any owner financing; (5) The amounts to be paid to lienholders; (6) A statement of contractual or other arrangements or conditions of the broker's commission; and (7) Other material facts relevant to the sale.\n(1) A description of the property to be sold to each buyer;\n(2) The name of each buyer;\n(3) The proposed purchase price;\n(4) The terms and conditions of the proposed sale, including the terms of any owner financing;\n(5) The amounts to be paid to lienholders;\n(6) A statement of contractual or other arrangements or conditions of the broker's commission; and\n(7) Other material facts relevant to the sale.","path":["TN Code","Title 29","Chapter 27"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"715e3d4b09df83d7f259565428f6636496ec94644e289f295e59d68958e358cd","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-29-27-310","next":"us-tn/tenn.-code-ann.-29-27-312"},"notice":"GroundRules: Original legal text. Not legal advice."}