Tennessee SB1601 allows municipalities to require real estate investment trusts to register and notify local authorities of changes in ownership.
Tennessee SB1601 amends the state code to allow municipalities to mandate real estate investment trusts (REITs) owning or managing ten or more dwelling units to register with local building code enforcement agencies. The registration requires the REIT to provide contact information and details of each unit. If a REIT fails to register or update information, it faces a fine of $50 per week. The law takes effect July 1, 2026.
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