Tennessee Code Title 47. Commercial Instruments and Transactions § 47-18-134

(a) If an offeror makes an unsolicited offer to purchase real property by sending a written agreement or contract for purchase through the mail to an offeree and the offeror does not use the assistance of a broker, as defined in § 62-13-102, who is licensed in this state to make an unsolicited offer, then the offeree may cancel the agreement or contract by mailing written notice of the offeree's election to cancel to the offeror postmarked within thirty (30) days from the date of the confirmation letter described in subdivision (b)(3).

(b) An unsolicited offer to purchase real property by sending a written agreement or contract for purchase through the mail is not deemed accepted by the offeree until:

(c) Cancellation of the agreement or contract under this section is without penalty to the offeree. However, the offeree shall, within thirty (30) days following cancellation under this section, return all payments made by the offeror to the offeree.

(e) A third-party buyer who purchases the real property from the offeror prior to the expiration of the offeree's right to cancellation under this section takes title to the real property subject to the offeree's right to cancellation. If the offeree exercises the offeree's right to cancellation under this section, then the title acquired by the third-party buyer is voided and the title immediately returns to the offeree. This subsection (e) does not apply if the offeree waives the right to cancellation pursuant to subsection (d).

(f) A violation of this section by an offeror constitutes an unfair or deceptive act prohibited under § 47-18-104, and is punishable as provided in this part.