Abolishes executory limitations in real property conveyances in Tennessee.

This bill amends Tennessee law to abolish executory limitations in real property conveyances. It declares that reverter or forfeiture provisions of unlimited duration in deeds, wills, or other documents establishing certain common law estates are unreasonable restraints on alienation. The bill makes these provisions unenforceable if executed after July 1, 2025. For provisions executed more than 75 years prior to July 1, 2025, they are abolished and unenforceable. The bill also allows for the extension of reverter provisions for five years if a sworn statement is filed by July 1, 2026.

Abolishes executory limitations in real property conveyances in Tennessee.

This bill amends Tennessee law to abolish executory limitations in real property conveyances. It declares that reverter or forfeiture provisions of unlimited duration in deeds, wills, or other documents establishing certain common law estates are unreasonable restraints on alienation. The bill makes these provisions unenforceable if executed after July 1, 2025. For provisions executed more than 75 years prior to July 1, 2025, they are abolished and unenforceable. The bill also allows for the extension of reverter provisions for five years if a sworn statement is filed by July 1, 2026.