Michael McKenzie v. Brandywine Homeowners' Association, Inc.

This appeal involves a non-judicial foreclosure by Brandywine Homeowners’ Association (the HOA) for non-payment of assessments due to the HOA by former property owner, plaintiff Michael McKenzie. It is undisputed that there was no irregularity in the recording, notice or foreclosure of the HOA’s lien on the property. Plaintiff argues that the foreclosure sale price, $4,445.90, is shockingly low in light of the trial court’s finding that the property was worth about $100,000. Plaintiff does not allege, nor did the trial court find, any “misconduct, fraud, or unfairness on the part of the [HOA] that caused or contributed to an inadequate price.” Holt v. Citizens Central Bank, 688 S.W.2d 414, 416 (Tenn. 1984). The trial court granted the HOA summary judgment, refusing plaintiff’s request to set aside the foreclosure on equitable grounds. Because the Supreme Court in Holt held that the “lone infirmity” of a “conscience shocking inadequate price . . . will no longer justify voiding a foreclosure sale,” id., we are compelled to affirm the trial court’s judgment.