Tennessee HB0569 amends real property transaction laws to ensure purchasers can select their own settlement agents.

Tennessee HB0569 amends Tennessee Code Annotated, Title 56, Chapter 35 and Title 66, to clarify that in real property transactions, purchasers have the exclusive right to select their settlement agent. Sellers cannot require a specific settlement agent or condition obligations on the purchaser's choice. This provision cannot be waived or modified by any party. Sellers may still retain an attorney for legal advice related to escrow or closing services. The act takes effect on July 1, 2025.

Tennessee HB0569 amends real property transaction laws to ensure purchasers can select their own settlement agents.

Tennessee HB0569 amends Tennessee Code Annotated, Title 56, Chapter 35 and Title 66, to clarify that in real property transactions, purchasers have the exclusive right to select their settlement agent. Sellers cannot require a specific settlement agent or condition obligations on the purchaser's choice. This provision cannot be waived or modified by any party. Sellers may still retain an attorney for legal advice related to escrow or closing services. The act takes effect on July 1, 2025.