Tennesse Judicial or Trust Auctions

Title 35. Fiduciaries and Trust Estates
Chapter 5. Judicial or Trust Sales (Refs & Annos)
§ 35-5-112. Auctions and auctioneers
Currentness
(a) Whenever real or personal property is to be sold at public sale under any order or decree of any court in this state, the court, judge or chancellor under whose jurisdiction the sale is to be made has the discretionary authority to secure the services of an auctioneer licensed in this state to conduct the public sale and to fix the auctioneer's fee, the fee to be not more than eight percent (8%) of the sale price on sales of real property and not more than ten percent (10%) of the sale price on sales of personal property, these fees not to include the expenses of sales, and to order the fee to be paid out of the proceeds of the sale.
(b) Whenever real property is sold at a public sale conducted by an auctioneer, the sale shall be conducted on the real property to be sold. This subsection (b) shall not be applicable to sales of parcels pursuant to title 67, chapter 5.
(c) If the clerk of the court or clerk and master is also a licensed auctioneer, then the clerk or clerk and master shall receive fees in that person's capacity as clerk, or clerk and master, or special commissioner, and shall not receive any extra fee as a licensed auctioneer.
Credits
1975 Pub.Acts, c. 334, §§ 1, 2; 1976 Pub.Acts, c. 772, § 1; 1978 Pub.Acts, c. 769, § 1; 2011 Pub.Acts, c. 320, § 1, eff. July 1, 2011; 2015 Pub.Acts, c. 414, § 2, eff. May 8, 2015.
Formerly § 35-513; § 35-514; § 71-3-128