reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 1 - GENERAL PROVISIONS (§§ 66-1-101 — 66-1-112) › Section 66-1-111 - Doctrine of worthier title abolished

(a)
The doctrine of worthier title in both its inter vivos and testamentary branches, as it may apply to any kind of property, and regardless of whether it is applied as a rule of property or of construction, is abolished for all effects and purposes. This section shall not affect any right in property heretofore vested, and shall not affect the reversion of the grantor of any deed heretofore given. The doctrine of worthier title shall not operate to affect the disposition of property by the will of any person dying after July 1, 1983.
(b)
The consent of the beneficiaries of any express trust whenever created who are described in the trust only as the heirs of the settlor or the heirs of the settlor's body shall not be required for the termination of such trust during the life of the settlor.
Acts 1983, ch. 242, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 1 - GENERAL PROVISIONS (§§ 66-1-101 — 66-1-112) › Section 66-1-112 - Alienability of certain future interests for purpose of merger of interests in grantee - Applicability

(a)
A transfer of a possibility of reverter or right of entry by a holder other than the original grantor is invalid; provided, holders of a possibility of reverter or right of entry may freely transfer the interests to the holders of the corresponding fee simple determinable or fee simple subject to condition subsequent for the purpose of merger of the interests in any grantee.
(b)
This section applies to future interests regardless of whether the interests were created before, on, or after July 1, 2015; provided, this section does not apply to any future interest, the validity of which has been determined by a final judgment in a judicial proceeding or by a settlement among interested persons prior to July 1, 2015.
Added by 2015 Tenn. Acts, ch. 14,s 1, eff. 3/19/2015.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-201 - Short title

This part shall be known and may be cited as the "Tennessee Uniform Statutory Rule Against Perpetuities."
Acts 1994, ch. 654, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-203 - Creation of nonvested property interest or power of appointment

(a)
Except as provided in subsections (b) and (c) of this section and in §
66-1-206(a)
, the time of creation of a nonvested property interest or a power of appointment is determined by other applicable statutes or, if none, under general principles of property law.
(b)
For purposes of this part, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of:
(1)
A nonvested property interest; or
(2)
A property interest subject to a power of appointment described in §§
66-1-202(b) or (c)
;
the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
(c)
For purposes of this part, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.
Acts 1994, ch. 654, § 3.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-204 - Judicial reformation of property disposition

Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the ninety (90) years allowed by §§
66-1-202(a)(2), (b)(2) or (c)(2)
if any of the following conditions is satisfied:
(1)
A nonvested property interest or a power of appointment becomes invalid under the statutory rule against perpetuities provided in §
66-1-202
;
(2)
A class gift is not but might become invalid under the statutory rule against perpetuities provided in §
66-1-202
, and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or
(3)
A nonvested property interest that is not validated by §
66-1-202(a)(1)
can vest but not within ninety (90) years after its creation.
Acts 1994, ch. 654, § 4.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-205 - Exceptions to rule

Section
66-1-202
does not apply to any of the following:
(1)
A nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of:
(A)
A premarital or postmarital agreement;
(B)
A separation or divorce settlement;
(C)
A spouse's election;
(D)
A similar arrangement arising out of a prospective, existing, or previous marital relationship between the parties;
(E)
A contract to make or not to revoke a will or trust;
(F)
A contract to exercise or not to exercise a power of appointment;
(G)
A transfer in satisfaction of a duty of support; or
(H)
A reciprocal transfer;
(2)
A fiduciary's power relating to the administration or management of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income;
(3)
A power to appoint a fiduciary;
(4)
A discretionary power of a trustee to distribute principal before termination of a trust to a beneficiary having an indefeasibly vested interest in the income and principal;
(5)
A nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision;
(6)
A nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, profit-sharing, stock bonus, health, disability, death benefit, income deferral, or other current or deferred benefit plan for one (1) or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse; or
(7)
A property interest, power of appointment, or arrangement that was not subject to the common law rule against perpetuities or is excluded by another statute of this state.
Acts 1994, ch. 654, § 5.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-206 - Application - Retroactivity

(a)
Except as provided in subsection (b), this part applies to nonvested property interests and unexercised powers of appointment regardless of whether they were created before, on, or after July 1, 1994. A property interest shall not be deemed vested merely because it would vest if the common law rule against perpetuities were violated.
(b)
This part does not apply to any property interest or power of appointment the validity of which has been determined by a final judgment in a judicial proceeding or by a settlement among interested persons prior to July 1, 1994.
Acts 1994, ch. 654, § 6.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-207 - Preemption of common law

This part supersedes the common law rule against perpetuities in this state.
Acts 1994, ch. 654, § 7.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 1 - ESTATES IN PROPERTY (§§ 66-1-101 — 66-1-208) › Part 2 - TENNESSEE UNIFORM STATUTORY RULE AGAINST PERPETUITIES (§§ 66-1-201 — 66-1-208) › Section 66-1-208 - Application and construction

This part shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this part among the states enacting it.
Acts 1994, ch. 654, § 8.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 1 - ALIENS (§§ 66-2-101 — 66-2-102) › Section 66-2-101 - Alien ownership

Except as provided in part 3 of this chapter, an alien, resident, or nonresident of the United States, may take and hold property, real or personal, in this state and dispose of or transmit the same as a native citizen.
Amended by 2023 Tenn. Acts, ch. 369,s 1, eff. 7/1/2023.
Acts 1875, ch. 2, §§ 1, 2; Shan., § 3659; mod. Code 1932, § 7187; T.C.A. (orig. ed.), § 64-201.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 1 - ALIENS (§§ 66-2-101 — 66-2-102) › Section 66-2-102 - Heirs or devisees of alien

Except as provided in part 3 of this chapter, the heir or heirs, or devisee or devisees, of an alien, resident, or nonresident of the United States, may take lands, held by descent or otherwise, as if a citizen or citizens of the United States.
Amended by 2023 Tenn. Acts, ch. 369,s 2, eff. 7/1/2023.
Acts 1875, ch. 2, § 3; Shan., § 3660; mod. Code 1932, § 7188; T.C.A. (orig. ed.), § 64-202.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - RELIGIOUS ENTITIES (§§ 66-2-201 — 66-2-203) › Section 66-2-201 - Ownership of land

Any religious denomination, religious society, or church, whether incorporated or not, may take, by deed or otherwise, and hold any amount of acreage at one (1) place for purposes of public worship, or for a parsonage, or for a burial ground.
Code 1858, § 1508 (deriv. Acts 1843-1844, ch. 110); Acts 1889, ch. 11, § 1; Shan., § 2562; mod. Code 1932, § 4407; Acts 1957, ch. 206, § 1; T.C.A. (orig. ed.), § 64-203.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - RELIGIOUS ENTITIES (§§ 66-2-201 — 66-2-203) › Section 66-2-202 - Title in trustees

All lands bought or otherwise acquired by any religious denomination or society shall be vested in a board of trustees or other persons designated by the members of such denomination or society, for the use and benefit of the denomination or society.
Code 1858, § 1509 (deriv. Acts 1855-1856, ch. 79, § 1); Shan., § 2563; Code 1932, § 4408; T.C.A. (orig. ed.), § 64-204.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - RELIGIOUS ENTITIES (§§ 66-2-201 — 66-2-203) › Section 66-2-203 - Conveyance by church officers

In all cases where any elders, trustees, or other church officers, in any of the churches or organizations of any religious denomination, shall have any lands conveyed to them for the use of their respective churches or congregations as building sites, or for any other purpose, by deed, grant, devise, or in any other manner, they or their successors in office, according to the regulations of such church or congregation, may sell and convey the same by deed, which deed, when officially signed by such elders, trustees, or other church officers, or their successors in office, shall pass the title, whether for life, for years, or in fee, to such land to the purchaser in as full and ample a manner as if the officers held the same as a corporation, and had conveyed it by deed under the corporate name.
Acts 1883, ch. 37, § 1; Shan., § 2564; Code 1932, § 4409; T.C.A. (orig. ed.), § 64-205.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-301 - [Effective Until 1/1/2025] Part definitions

As used in this part:
(1)
"Real property" means one (1) or more defined parcels or tracts of land or interests, benefits, and rights inherent in the ownership of real estate, including easements, water rights, agricultural land, or any other interest in real property;
(2)
"Sanctioned foreign business" means:
(A)
A corporation incorporated under the laws of a foreign country of a sanctioned foreign government;
(B)
A business entity whether or not incorporated, in which a majority interest is owned directly or indirectly by sanctioned nonresident aliens. As used in this subdivision (2)(B), the determination of "owned," in terms of ownership or control of a foreign business, is not affected by legal entities, including, but not limited to, trusts, holding companies, multiple corporations, and other business arrangements; or
(C)
A corporation or business entity, whether or not incorporated, that is identified on the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list;
(3)
"Sanctioned foreign government" means a government other than the government of the United States, its states, its territories, or its possessions, that is identified by the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list; and
(4)
(A)
"Sanctioned nonresident alien" means an individual who is either:
(i)
A citizen of a sanctioned foreign government; or
(ii)
A person identified on the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list; and
(B)
"Sanctioned nonresident alien" does not include:
(i)
A citizen of the United States; or
(ii)
A person lawfully admitted into the United States for permanent residence by the United States immigration and naturalization service, even if such status is conditional.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-301 - [Effective 1/1/2025] Part definitions

Except as otherwise provided in this part, all aliens are capable of taking, by deed or will, lands and tenements in fee simple, or other less estate, and of holding, aliening, and devising them. As used in this section, "alien" includes a resident alien or nonresident alien who is not a prohibited foreign party.
Amended by 2024 Tenn. Acts, ch. 995,s 1, eff. 1/1/2025.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-302 - [Effective Until 1/1/2025] Sanctioned individuals or entities prohibited from purchase of real property - Applicability of prohibition - Prohibition on transfer of title or interest

(a)
(1)
A sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, shall not purchase or otherwise acquire real property in this state if the country where the sanctioned nonresident alien resides, the sanctioned foreign business is located, or the official sanctioned foreign government representing the country, or agents, trustees, or fiduciaries thereof, is on the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list.
(2)
This part applies to the extent that the purchase of real property is not prohibited under subdivision (a)(1).
(b)
The restriction in subsection (a) does not apply to:
(1)
Real property acquired by devise or descent;
(2)
A bona fide encumbrance on real property taken for purposes of security; and
(3)
Real property acquired by a process of law in the collection of debts; by a deed in lieu of foreclosure, pursuant to a forfeiture of a contract for deed; or by a procedure for the enforcement of a lien or claim on the real property, whether created by mortgage or otherwise. However, real property so acquired must be sold or otherwise disposed of within two (2) years after the title is transferred. Pending the sale or disposition, the real property must not be used for a purpose other than what it was used for immediately prior to the time the property was put up for sale, and the property must not be used except under lease to an individual, trust, corporation, partnership, or other business entity not subject to the restriction imposed by subsection (a).
(c)
Notwithstanding subdivision (a)(2), a sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, who holds real property in this state on July 1, 2023, may continue to own or hold the real property, but shall not purchase or otherwise acquire additional real property in this state on or after July 1, 2023.
(d)
A sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, shall not transfer title to, or an interest in, real property to a sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, except by devise or descent.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-303 - [Effective Until 1/1/2025] Divestment of right or title by sanctioned individual or entity - Exception

(a)
A sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, who acquires real property or an interest in real property, by devise or descent after July 1, 2023, shall divest itself of all right, title, and interest in the real property within two (2) years from the date of acquiring the real property or interest.
(b)
This section does not require divestment of real property or an interest in real property, acquired by devise or descent from a sanctioned nonresident alien, if the real property or an interest in the real property was acquired by a sanctioned nonresident alien prior to July 1, 2023.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-303 - [Effective 1/1/2025] Divestment of right or title by sanctioned individual or entity - Exception

(a)
It is the declared policy of this state to conserve, protect, and encourage the development and improvement of its agricultural and forest lands and other facilities for the production of food, fiber, and other agricultural and silvicultural products.
(b)
(1)
(A)
Except as provided in subsection (c), a prohibited foreign party or prohibited foreign-party-controlled business shall not acquire by grant, purchase, devise, descent, or otherwise an interest in agricultural land in this state regardless of whether the prohibited foreign party or prohibited foreign-party-controlled business intends to use the agricultural land for nonfarming purposes.
(B)
A party shall not hold agricultural land as an agent, trustee, or other fiduciary for a prohibited foreign party or prohibited foreign-party-controlled business in violation of this section.
(2)
A prohibited foreign party or prohibited foreign-party-controlled business that acquires agricultural land in violation of this section remains in violation as long as the prohibited foreign party or prohibited foreign-party-controlled business holds an interest in the agricultural land.
(c)
(1)
A prohibited foreign party or prohibited foreign-party-controlled business in violation of this section shall divest itself of the interest in agricultural land within two (2) years of the date the entity is found to be in violation.
(2)
If a prohibited foreign party or prohibited foreign-party-controlled business does not divest itself of the interest in agricultural land as prescribed in subdivision (c)(1), then the attorney general and reporter may commence an action pursuant to § 66-2-307.
(d)
A prohibited foreign party or prohibited foreign-party-controlled business owning an interest in agricultural land in this state on or after January 1, 2025, commits a Class A misdemeanor, punishable by a fine of one thousand five hundred dollars ($1,500) or confinement for not more than eleven (11) months and twenty-nine (29) days, or both.
Amended by 2024 Tenn. Acts, ch. 995,s 1, eff. 1/1/2025.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-304 - [Effective Until 1/1/2025] Divesting of right, title, and interest upon status change

A person, business, or other entity who purchases or otherwise acquires real property in this state except by devise or descent, after July 1, 2023, and whose status changes so that it becomes a sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, subject to this part, shall divest itself of all right, title, and interest in the real property within two (2) years from the date that its status changed.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-305 - [Effective Until 1/1/2025] Registration requirements of real property with the secretary of state

A sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, or an agent, trustee, or fiduciary thereof, who owns an interest in real property in this state on or after July 1, 2023, shall register the real property with the secretary of state. The registration must be made within sixty (60) days after July 1, 2023, or within sixty (60) days after acquiring the real property or the interest in real property, whichever time is the later. The registration must be in the form and manner prescribed by the secretary of state and contain the name of the owner and the location and number of acres of the real property by municipality and county. If the owner of the real property or owner of the interest in real property is an agent, trustee, or fiduciary of a sanctioned nonresident alien, sanctioned foreign business, or sanctioned foreign government, then the registration must also include the name of any principal for whom that real property, or interest in real property, was purchased as agent, trustee, or fiduciary.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-305 - [Effective 1/1/2025] Registration requirements of real property with the secretary of state

(a)
(1)
A prohibited foreign-party-controlled business shall not acquire by grant, purchase, devise, descent, or otherwise an interest in non-agricultural land in this state.
(2)
A party shall not hold an interest in non-agricultural land as an agent, trustee, or other fiduciary for a prohibited foreign-party-controlled business.
(3)
A prohibited foreign-party-controlled business that acquires non-agricultural land in violation of this section remains in violation as long as the prohibited foreign-party-controlled business holds an interest in the non-agricultural land.
(b)
(1)
A prohibited foreign-party-controlled business in violation of this section shall divest itself of the interest in non-agricultural land within two (2) years of the date the entity is found to be in violation.
(2)
If a prohibited foreign-party-controlled business does not divest itself of the interest in non-agricultural land as prescribed in subdivision (b)(1), then the attorney general and reporter may commence an action pursuant to § 66-2-307.
(c)
A violation of this section is a Class A misdemeanor, punishable by a fine of one thousand five hundred dollars ($1,500) or confinement for not more than eleven (11) months and twenty-nine (29) days, or both.
Amended by 2024 Tenn. Acts, ch. 995,s 1, eff. 1/1/2025.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-306 - [Effective Until 1/1/2025] Violation of this part - Initiation of action - Notice of action - Escheatment to the state - Civil penalty - Liability limitations

(a)
If the secretary of state finds that a sanctioned nonresident alien, sanctioned foreign business, sanctioned foreign government, or an agent, trustee, or other fiduciary thereof, has acquired or holds title to or interest in real property in this state in violation of this part, the secretary of state shall report the violation to the attorney general and reporter.
(b)
Upon receipt of a report from the secretary of state under subsection (a), the attorney general and reporter shall initiate an action in the circuit court of any county in which the real property is located.
(c)
The attorney general and reporter shall file a notice of the pendency of an action initiated under subsection (b) with the recorder of deeds of each county in which any of the real property is located.
(d)
(1)
In an action initiated under subsection (b), if the court finds that the real property in question has been acquired or held in violation of this part, then the court shall enter an order so declaring and shall file a copy of the order with the recorder of deeds of each county in which any portion of the real property is located.
(2)
If the court finds that the real property in question has been acquired in violation of this part, then the court shall declare the real property escheated to the state and order the sale of the real property in the manner provided by law for the foreclosure of a mortgage on real estate for default of payment. The proceeds of the sale must be used to pay court costs, and the remaining funds, if any, must be paid to the person divested of the real property.
(e)
If the secretary of state finds that a sanctioned nonresident alien, sanctioned foreign business, sanctioned foreign government, or an agent, trustee, or other fiduciary thereof, violated this part by failing to timely register as required under §
66-2-305
, the secretary of state shall assess a civil penalty not to exceed two thousand dollars ($2,000) for each violation.
(f)
This part does not impose liability on a person licensed under the Tennessee Real Estate Broker License Act of 1973, compiled in title 62, chapter 13; an attorney licensed in this state; or a title insurance company or an agent licensed in this state who is involved in a transaction in which a sanctioned nonresident alien, sanctioned foreign business, sanctioned foreign government, or an agent, trustee, or other fiduciary of such alien, business, or government, acquired property in violation of this part.
Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-307 - [Effective 1/1/2025]

(a)
Upon receipt of a report from the commissioner of agriculture under § 66-2-304(d) or the secretary of state under § 66-2-306(d), the attorney general and reporter may initiate an action in the circuit court of any county in which the agricultural land or non-agricultural land is located. The attorney general and reporter may also initiate an action to enforce this part based upon the receipt of information by means other than a report from the commissioner of agriculture or secretary of state that the attorney general and reporter determines indicates that a violation of this part has occurred.
(b)
The attorney general and reporter shall file a notice of the pendency of an action initiated under subsection (a) with the register of deeds of each county in which any of the agricultural land or non-agricultural land is located.
(c)
(1)
In an action initiated under subsection (a), if the court finds that the agricultural land or non-agricultural land in question has been acquired or held in violation of this part, then the court shall enter an order so declaring and shall file a copy of the order with the register of deeds of each county in which any portion of the agricultural land or non-agricultural land is located.
(2)
If the court finds that an interest in the agricultural land or non-agricultural land in question has been acquired or held in violation of this part, then the court shall declare the agricultural land or non-agricultural land escheated to the state and order the sale of the agricultural land or non-agricultural land in the manner provided by law for the foreclosure of a mortgage on real estate for default of payment. The proceeds of the sale must be used to pay court costs, and the remaining funds, if any, must be disbursed to lien holders, in the order of priority, except for liens which under the terms of the sale are to remain on the land.
Added by 2024 Tenn. Acts, ch. 995,s 1, eff. 1/1/2025.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 2 - POWER TO OWN AND CONVEY PROPERTY (§§ 66-2-101 — 66-2-308) › Part 2 - SANCTIONED NONRESIDENT ALIEN, SANCTIONED FOREIGN BUSINESS, OR SANCTIONED FOREIGN GOVERNMENT (§§ 66-2-301 — 66-2-308) › Section 66-2-308 - [Effective 1/1/2025]

(a)
This part does not impose liability on a person licensed under the Tennessee Real Estate Broker License Act of 1973, compiled in title 62, chapter 13; an attorney licensed in this state or licensed in another state and handling a matter governed by the law of this state; a title insurance company or an agent licensed in this state; a state or national bank, bank holding company, or its affiliates or subsidiaries; a savings and loan association or savings bank; a credit union; an industrial loan or thrift company; or a mortgage lender licensed by the department of financial institutions who is involved in a transaction in which a prohibited foreign party or prohibited foreign-party-controlled business acquired or held an interest in property in violation of this part.
(b)
This part does not apply to a prohibited foreign party or prohibited foreign-party-controlled business that possesses an interest in agricultural land or non-agricultural land if such prohibited foreign party or prohibited foreign-party-controlled business is duly registered and in good standing with the secretary of state as of January 1,2025, and has:
(1)
Been approved by the committee on foreign investment in the United States (CFIUS); or
(2)
Previously received a determination that there are no unresolved national security concerns or that pending actions under Section 721 of the Defense Production Act of 1950 (50 U.S.C. App. 2170) are concluded with respect to a covered transaction, as defined in
31 C.F.R. § 800.213
; provided, that such prohibited foreign party or prohibited foreign-party-controlled business has not undergone a change in control constituting a covered control transaction, as defined in
31 C.F.R. § 800.210
, since such determination.
Added by 2024 Tenn. Acts, ch. 995,s 1, eff. 1/1/2025.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 1 - CONVEYANCES (§§ 66-3-101 — 66-3-104) › Section 66-3-101 - Conveyances in fraud of creditors or purchasers void

Every gift, grant, conveyance of lands, tenements, hereditaments, goods, or chattels, or of any rent, common or profit out of the same, by writing or otherwise; and every bond, suit, judgment, or execution, had or made and contrived, of malice, fraud, covin, collusion, or guile, to the intent or purpose to delay, hinder, or defraud creditors of their just and lawful actions, suits, debts, accounts, damages, penalties, forfeitures; or to defraud or to deceive those who shall purchase the same lands, tenements, or hereditaments, or any rent, profit, or commodity out of them, shall be deemed and taken, only as against the person, such person's heirs, successors, executors, administrators, and assigns, whose debts, suits, demands, estates, or interest, by such guileful and covinous practices, shall or might be in any wise disturbed, hindered, delayed, or defrauded, to be clearly and utterly void; any pretense, color, feigned consideration, expressing of use, of any other matter or thing, to the contrary notwithstanding.
Code 1858, § 1759 (deriv. Acts 1801, ch. 25, § 2); Shan., § 3143; Code 1932, § 7832; T.C.A. (orig. ed.), § 64-301.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 1 - CONVEYANCES (§§ 66-3-101 — 66-3-104) › Section 66-3-102 - Personal property conveyed without consideration

If a conveyance be of goods or chattels, and be not on consideration deemed valuable in law, it shall be taken to be fraudulent, unless the same be by will duly proved and recorded, or by bill of sale or other instrument acknowledged or proved and registered according to law, or unless possession remain with the donee.
Code 1858, § 1760 (deriv. Acts 1801, ch. 25, § 2); Shan., § 3151; mod. Code 1932, § 7833; T.C.A. (orig. ed.), § 64-302.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 1 - CONVEYANCES (§§ 66-3-101 — 66-3-104) › Section 66-3-103 - Presumption of ownership from possession of personal property

Possession of goods and chattels continued for five (5) years, without demand made and pursued by due process of law, shall, as to the creditors of the possessor or purchasers from the possessor, be deemed conclusive evidence that the absolute property is in such possessor, unless the contrary appear by bill of sale, deed, will, or other instrument in writing, proved or acknowledged and registered.
Code 1858, § 1761 (deriv. Acts 1801, ch. 25, § 2); Shan., § 3152; mod. Code 1932, § 7834; T.C.A. (orig. ed.), § 64-303.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 1 - CONVEYANCES (§§ 66-3-101 — 66-3-104) › Section 66-3-104 - Conveyance by general warranty deed with knowledge of existing liens - Conveyance with knowledge of lack of legal or equitable interest to convey

(a)
Any person who transfers land by execution of a general warranty deed with knowledge of outstanding liens, mortgages, deeds of trust or other claims against such transferred land with the intent to defraud, commits a Class E felony.
(b)
Any person who transfers or applies for recordation of any transfer of land by execution of either a general warranty deed or quitclaim deed, or any other devise, with knowledge that the transferor or grantor has no legal or equitable interest to convey such land commits a Class A misdemeanor.
Acts 1978, ch. 743, §§ 1, 2; 1978, ch. 917, § 1; T.C.A., § 64-322; Acts 1989, ch. 591, § 87; 2011, ch. 399, § 2.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 2 - DEVISES (§§ 66-3-201 — 66-3-204) › Section 66-3-201 - Devises declared void

All devises of lands, tenements, and hereditaments, or of any rent, profit, term, or charge out of the same, contrived and made to defraud creditors of their just debts, shall be deemed and taken to be null and void only as against such creditors, their heirs, successors, executors, administrators, and assigns, and every one of them.
Code 1858, § 1762 (deriv. Acts 1789, ch. 39, § 2); Shan., § 3153; Code 1932, § 7835; T.C.A. (orig. ed.), § 64-304.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 2 - DEVISES (§§ 66-3-201 — 66-3-204) › Section 66-3-202 - Action against devisees

Every such creditor may maintain an action or suit against such devisee, and, severally or jointly, against the debtor and the heirs at law of the debtor, in all cases, and in like manner, as such action or suit could be brought or maintained against the debtor's heirs at law.
Code 1858, § 1763 (deriv. Acts 1789, ch. 39, § 2); Shan., § 3154; Code 1932, § 7836; T.C.A. (orig. ed.), § 64-305.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 2 - DEVISES (§§ 66-3-201 — 66-3-204) › Section 66-3-203 - Execution for value of alienated lands

If the devisee sells, aliens, or makes over the lands so devised, before an action is brought or process sued out against the devisee, such devisee shall be answerable for such debt to the value of the lands, sold, aliened, or made over; and execution shall be taken out upon the judgment or decree obtained against such devisee to the value of the lands, as if the same were the devisee's own proper debt.
Code 1858, § 1764 (deriv. Acts 1789, ch. 39, § 3); Shan., § 3155; Code 1932, § 7837; T.C.A. (orig. ed.), § 64-306.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 2 - DEVISES (§§ 66-3-201 — 66-3-204) › Section 66-3-204 - Bona fide purchasers protected

Lands, tenements, and hereditaments, bona fide aliened before the action brought, shall not be liable to such execution.
Code 1858, § 1765 (deriv. Acts 1789, ch. 39, § 3); Shan., § 3156; Code 1932, § 7838; T.C.A. (orig. ed.), § 64-307.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 3 - UNIFORM FRAUDULENT TRANSFER ACT (§§ 66-3-301 — 66-3-313) › Section 66-3-301 - Short title

This part may be cited as the "Uniform Fraudulent Transfer Act."
Acts 2003, ch. 42, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 3 - UNIFORM FRAUDULENT TRANSFER ACT (§§ 66-3-301 — 66-3-313) › Section 66-3-303 - Insolvency

(a)
A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's assets, at a fair valuation.
(b)
A debtor who is generally not paying such debtor's debts as they become due is presumed to be insolvent.
(c)
A partnership is insolvent under subsection (a) if the sum of the partnership's debts is greater than the aggregate of all of the partnership's assets, at a fair valuation, and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.
(d)
Assets under this section do not include property that has been transferred, concealed, or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under this part.
(e)
Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.
Acts 2003, ch. 42, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 3 - UNIFORM FRAUDULENT TRANSFER ACT (§§ 66-3-301 — 66-3-313) › Section 66-3-304 - Value

(a)
Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor's business to furnish support to the debtor or another person.
(b)
For the purposes of §§
66-3-305(a)(2)
and
66-3-306
, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor upon default under a mortgage, deed of trust, or security agreement.
(c)
A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
Acts 2003, ch. 42, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 3 - UNIFORM FRAUDULENT TRANSFER ACT (§§ 66-3-301 — 66-3-313) › Section 66-3-305 - Transfers fraudulent as to present and future creditors

(a)
A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:
(1)
With actual intent to hinder, delay, or defraud any creditor of the debtor; or
(2)
Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor:
(A)
Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or
(B)
Intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor's ability to pay as they became due.
(b)
In determining actual intent under subdivision (a)(1), consideration may be given, among other factors, to whether:
(1)
The transfer or obligation was to an insider;
(2)
The debtor retained possession or control of the property transferred after the transfer;
(3)
The transfer or obligation was disclosed or concealed;
(4)
Before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit;
(5)
The transfer was of substantially all the debtor's assets;
(6)
The debtor absconded;
(7)
The debtor removed or concealed assets;
(8)
The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred;
(9)
The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred;
(10)
The transfer occurred shortly before or shortly after a substantial debt was incurred; and
(11)
The debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor.
Acts 2003, ch. 42, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 3 - UNIFORM FRAUDULENT TRANSFER ACT (§§ 66-3-301 — 66-3-313) › Section 66-3-306 - Transfers fraudulent as to present creditors

(a)
A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.
(b)
A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt, the debtor was insolvent at that time, and the insider had reasonable cause to believe that the debtor was insolvent.
Acts 2003, ch. 42, § 1.
2023 Tennessee Code › Title 66 - PROPERTY (§§ 66-1-101 — 66-38-101) › Chapter 3 - FRAUDULENT CONVEYANCES AND DEVISES (§§ 66-3-101 — 66-3-313) › Part 3 - UNIFORM FRAUDULENT TRANSFER ACT (§§ 66-3-301 — 66-3-313) › Section 66-3-307 - When transfer is made or obligation is incurred

For the purposes of this part:
(1)
A transfer is made:
(A)
With respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good-faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and
(B)
With respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this part that is superior to the interest of the transferee;
(2)
If applicable law permits the transfer to be perfected as provided in subdivision (1)(A) and the transfer is not so perfected before the commencement of an action for relief under this part, the transfer is deemed made immediately before the commencement of the action;
(3)
If applicable law does not permit the transfer to be perfected as provided in subdivision (1)(A), the transfer is made when it becomes effective between the debtor and the transferee;
(4)
A transfer is not made until the debtor has acquired rights in the asset transferred; or
(5)
An obligation is incurred:
(A)
If oral, when it becomes effective between the parties; or
(B)
If evidenced by a writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee.
Acts 2003, ch. 42, § 1.