Tenn. Code Ann. § 45-6-211
Failure to redeem - Notice to pledgor
- (a) In every pawn transaction made under a loan of money pawn transaction as defined in this part, the pawnbroker shall retain in the pawnbroker's possession the pledged goods for thirty (30) days after the maturity date of the pawn transaction. Pledged goods not redeemed by the pledgor on or before the maturity date of the pawn transaction set out in the pawn ticket issued in connection with any pawn transaction may be redeemed by the pledgor within the period of thirty (30) days after the maturity date of the pawn transaction by the payment of the originally agreed redemption price (interest, fee and loan amount), and the payment of the additional interest and fee for the period following the original maturity date due on the pawn transaction.
- (b) If the pledgor fails to redeem the pledged goods within thirty (30) days after the maturity date of the pawn transaction, the pledgor shall thereby forfeit all right, title and interest of, in and to the pledged goods to the pawnbroker, who shall thereby acquire an absolute title to the pledged goods and the debt becomes satisfied, and the pawnbroker shall have the authority to sell or dispose of the unredeemed pledged goods as the pawnbroker's own and may sell the unredeemed pledged goods.
- (c) If the pledgor loses the pawn ticket, the pledgor shall not thereby forfeit the right to redeem the pledged goods, but may promptly, before the lapse of the final redemption date, make affidavit for the loss, describing the pledged goods, which affidavit shall take the place of the pawn ticket, unless the pledged goods have already been redeemed under this part.
- (d) The following information shall be printed on all pawn tickets or buy-sell tickets:
- (1) ANY PERSONAL PROPERTY PLEDGED TO A PAWNBROKER WITHIN THIS STATE IS SUBJECT TO SALE OR DISPOSAL WHEN THERE HAS BEEN NO PAYMENT MADE ON THE ACCOUNT FOR A PERIOD OF THIRTY (30) DAYS AFTER THE MATURITY DATE OF THE PAWN TRANSACTION AND NO FURTHER NOTICE IS NECESSARY;
- (2) THE PLEDGOR OF THIS ITEM ATTESTS THAT IT IS NOT STOLEN, IT HAS NO LIENS OR ENCUMBRANCES AGAINST IT AND THE PLEDGOR HAS THE RIGHT TO SELL OR PAWN THE ITEM;
- (3) THE ITEM PAWNED IS REDEEMABLE ONLY BY THE BEARER OF THIS TICKET; and
- (4) A blank line for the pledgor's signature.
Acts 1988, ch. 724, § 11; 1995, ch. 186, § 8.
Notes of Decisions
Cited in 7
cases, 1992–2006 · leading case: Dunlap v. Cash America Pawn (In Re Dunlap)
Dunlap v. Cash America Pawn (In Re Dunlap) (1993)
“Fifty days is the minimum statutory redemption period required by Tenn.Code Ann. § 45-6-211. At expiration of this 50-day period, the contract and Tenn.”
Lynn v. Financial Solutions Corp. (In Re Lynn) (1994)
“T.C.A. § 45-6-211 (1993). In the case at bar, the “Pawn Agreement” states that “[t]his pawn matures upon execution of this contract .”
Dunlap v. Cash America Pawn of Nashville (In Re Dunlap) (1992)
“§ 45-6-211. At expiration of this 50-day period, the contract and TENN.”
In Re SCHWALB (2006)
“” Tenn. Code Ann. § 45-6-211 (e). Again, this non-UCC statute terminates the debtor’s interest in the goods pawned.”
Kubota Credit v. Doug Tillman (2002)
“-4- Tenn. Code Ann. § 45-6-211 (b)(1999 Supp.”
City of Knox v. Garuin (1998)
“After the statutorily stated maturity date, T.C.A. §45-6-211 gives a pledger an 2 additional thirty days after the maturity of the pawn transaction in which to redeem the pledged goods, and vests title in the pawnbroker if the goods are not redeemed in the statutorily prescribed…”
Kanta Keith v. Gene Howerton (2001)
“And, although the pawn contracts show that redemption payments on the ladies diamond ring and the mens diamond ring were past due after November 16,1997, those two items were also still subject to redemption under T.C.A. 45-6-211(a) which states: (a) In every pawn transaction…”
— Tenn. Code Ann. § 45-6-211(a) — 1 case
Kanta Keith v. Gene Howerton (2001)
“And, although the pawn contracts show that redemption payments on the ladies diamond ring and the mens diamond ring were past due after November 16,1997, those two items were also still subject to redemption under T.C.A. 45-6-211(a) which states: (a) In every pawn transaction…”
— Tenn. Code Ann. § 45-6-211(c) — 1 case
Dunlap v. Cash America Pawn of Nashville (In Re Dunlap) (1992)
“§ 45-6-211. At expiration of this 50-day period, the contract and TENN.”
— Tenn. Code Ann. § 45-6-211(e) — 1 case
Dunlap v. Cash America Pawn (In Re Dunlap) (1993)
“Fifty days is the minimum statutory redemption period required by Tenn.Code Ann. § 45-6-211. At expiration of this 50-day period, the contract and Tenn.”
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