Tennessee HB0781 amends state law to define wholesaling real property and sets disclosure requirements for buyers.

Tennessee HB0781 amends Tennessee Code Annotated, Title 47 and Title 66, to clarify the definition of wholesaling real property. It defines "equitable interest" as the right of a buyer to benefit from real property before the legal title transfer. The bill mandates that buyers disclose their equitable interest and intent to assign it to a subsequent purchaser in bold, large font print. It also sets a two-year statute of limitations for actions related to violations and specifies that these provisions apply only to real property transactions.

Tennessee HB0781 amends state law to define wholesaling real property and sets disclosure requirements for buyers.

Tennessee HB0781 amends Tennessee Code Annotated, Title 47 and Title 66, to clarify the definition of wholesaling real property. It defines "equitable interest" as the right of a buyer to benefit from real property before the legal title transfer. The bill mandates that buyers disclose their equitable interest and intent to assign it to a subsequent purchaser in bold, large font print. It also sets a two-year statute of limitations for actions related to violations and specifies that these provisions apply only to real property transactions.