Tennessee Code Title 66. Property § 66-4-403

Current as of January 02, 2024 | Updated by Findlaw Staff

(a)(1) A buyer who has entered into a contract with a seller to purchase real property may engage in wholesaling the real property if the buyer discloses the following information in writing to:

(A) A potential subsequent purchaser or assignee, the nature of the buyer's equitable interest in the real property; and

(B) The seller of the property, the buyer's intent to market its equitable interest prior to execution of the contract, and the effective date of any assignment of the buyer's interest to a subsequent purchaser of the real property at least three (3) business days prior to the effective date of any assignment, if the contract allows for such assignment.

(2) Disclosures required under subdivision (a)(1) must be in bold, large font print, and included in the written agreement.

(b) An action for violation of this part must be commenced within two (2) years after the execution of a contract for purchase and sale of real property.

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Cite this article: FindLaw.com - Tennessee Code Title 66. Property § 66-4-403 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-66-property/tn-code-sect-66-4-403/

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