{"data":{"id":"us-tn/tenn.-code-ann.-29-40-125","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 29-40-125","heading":"Effect of enforcement by mortgagee","body":"(a) A request by a mortgagee for appointment of a receiver, the appointment of a receiver, or application by a mortgagee of receivership property or proceeds to the secured obligation does not: (1) Make the mortgagee a mortgagee in possession of the real property; (2) Make the mortgagee an agent of the owner; (3) Constitute an election of remedies that precludes a later action to enforce the secured obligation; (4) Make the secured obligation unenforceable; (5) Limit any right available to the mortgagee with respect to the secured obligation; or (6) Except as otherwise provided in subsection (b), bar a deficiency judgment pursuant to the law of this state, other than this chapter, governing or relating to a deficiency judgment. (b) If a receiver sells receivership property that pursuant to § 29-40-116(c) is free and clear of a lien, the ability of a creditor to enforce an obligation that had been secured by the lien is subject to the law of this state, other than this chapter, relating to a deficiency judgment. Added by 2018 Tenn. Acts, ch. 731, s 1, eff. 7/1/2018.\n(a) A request by a mortgagee for appointment of a receiver, the appointment of a receiver, or application by a mortgagee of receivership property or proceeds to the secured obligation does not: (1) Make the mortgagee a mortgagee in possession of the real property; (2) Make the mortgagee an agent of the owner; (3) Constitute an election of remedies that precludes a later action to enforce the secured obligation; (4) Make the secured obligation unenforceable; (5) Limit any right available to the mortgagee with respect to the secured obligation; or (6) Except as otherwise provided in subsection (b), bar a deficiency judgment pursuant to the law of this state, other than this chapter, governing or relating to a deficiency judgment.\n(1) Make the mortgagee a mortgagee in possession of the real property;\n(2) Make the mortgagee an agent of the owner;\n(3) Constitute an election of remedies that precludes a later action to enforce the secured obligation;\n(4) Make the secured obligation unenforceable;\n(5) Limit any right available to the mortgagee with respect to the secured obligation; or\n(6) Except as otherwise provided in subsection (b), bar a deficiency judgment pursuant to the law of this state, other than this chapter, governing or relating to a deficiency judgment.\n(b) If a receiver sells receivership property that pursuant to § 29-40-116(c) is free and clear of a lien, the ability of a creditor to enforce an obligation that had been secured by the lien is subject to the law of this state, other than this chapter, relating to a deficiency judgment.","path":["TN Code","Title 29","Chapter 40"],"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":"ec5257b6c46a1586f3db096daa4b72c8b004d08f48666f2b2721636f6632316b","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-29-40-124","next":"us-tn/tenn.-code-ann.-29-40-126"},"notice":"GroundRules: Original legal text. Not legal advice."}