Tennessee Legislative Bills
8 legislative bills tracked for real estate wholesalers & investors
Last synced: 19h ago
AN ACT to amend Tennessee Code Annotated, Title 62, Chapter 13, relative to real estate licensees.
Summary
- This bill seeks to amend existing regulations concerning real estate licensees in Tennessee
- While specific details are not provided, it indicates potential changes to the licensing framework for real estate transactions
What This Means for Wholesalers
- Without a detailed description, it is unclear how this bill will directly affect wholesalers
- However, any amendments to licensing requirements could potentially impose new regulations on wholesalers operating without a license
AN ACT to amend Tennessee Code Annotated, Title 62, Chapter 13, relative to real estate licensees.
Summary
- This bill seeks to amend existing regulations regarding real estate licensees in Tennessee, potentially altering the requirements for individuals involved in real estate transactions
- The specific changes and their implications are currently unclear as the bill is still in committee and lacks a detailed description
What This Means for Wholesalers
- Without a clear description of the bill's provisions, it is uncertain how this legislation will directly affect wholesalers
- However, any amendments to licensing requirements could impose new regulations on wholesalers, potentially requiring them to obtain a real estate license to operate legally
AN ACT to amend Tennessee Code Annotated, Section 67-6-410, relative to wholesaler information reports.
Summary
- This bill amends the Tennessee Code to include provisions regarding wholesaler information reports, which likely require wholesalers to provide specific information related to their transactions
- The exact details of the reporting requirements are not specified in the summary
What This Means for Wholesalers
- For real estate wholesalers in Tennessee, this bill may introduce new reporting obligations that could increase their administrative responsibilities
- Wholesalers may need to ensure compliance with these requirements to avoid potential penalties
AN ACT to amend Tennessee Code Annotated, Title 47 and Title 66, relative to wholesaling real property.
Summary
- This bill amends existing Tennessee laws regarding the wholesaling of real property, likely introducing new regulations or clarifications on the practice
- It aims to provide a clearer legal framework for wholesalers operating in the state
What This Means for Wholesalers
- For real estate wholesalers in Tennessee, this bill may impose new requirements or restrictions on how they conduct their business
- Wholesalers should review the specific changes to ensure compliance and avoid potential legal issues
AN ACT to amend Tennessee Code Annotated, Section 67-6-410, relative to wholesaler information reports.
Summary
- This bill amends the Tennessee Code to include provisions related to wholesaler information reports, which likely require wholesalers to provide specific information about their transactions
- The details of these reports are not specified in the summary
What This Means for Wholesalers
- For real estate wholesalers in Tennessee, this bill may impose new reporting requirements that could increase their administrative burden
- Wholesalers may need to ensure compliance with these reporting standards to avoid potential penalties
AN ACT to amend Tennessee Code Annotated, Title 47 and Title 66, relative to wholesaling real property.
Summary
- This bill amends existing Tennessee laws related to wholesaling real property, likely introducing new regulations or clarifications regarding the practice
- It aims to provide a clearer legal framework for wholesalers operating in the state
What This Means for Wholesalers
- For real estate wholesalers in Tennessee, this bill may impose new requirements or restrictions on how they conduct their business
- Wholesalers should review the specific provisions to ensure compliance and understand any potential changes to their operational practices
Wholesale Disclosure Act
Summary
- Requires wholesalers to disclose intent to assign or sell equitable interest
- Must detail the nature of their interest in the property to homeowners
- Signed into law March 25, 2025 and went into effect immediately
- Aims to prevent confusion about transaction terms
What This Means for Wholesalers
- Must detail the nature of their interest in the property to homeowners
- Signed into law March 25, 2025 and went into effect immediately
- Aims to prevent confusion about transaction terms
Wholesale Real Estate Practices Act
Summary
- Defines wholesale real estate practices under Tennessee law
- Requires written disclosure of wholesaler's role and intent
- Creates registration requirement through Tennessee Real Estate Commission
- Violations subject to $10,000 fine per occurrence
What This Means for Wholesalers
- Requires written disclosure of wholesaler's role and intent
- Creates registration requirement through Tennessee Real Estate Commission
- Violations subject to $10,000 fine per occurrence
Frequently Asked Questions — Tennessee Real Estate Law
Common questions about wholesaling regulations and investor requirements in Tennessee.
Tennessee has enacted two key laws regulating real estate wholesaling: SB 909 (Wholesale Disclosure Act) effective March 25, 2025, and HB 1370 (Wholesale Real Estate Practices Act) effective July 1, 2024. These laws require wholesalers to disclose their intent to assign equitable interest and register with the Tennessee Real Estate Commission.
SB 909 mandates that wholesalers must disclose their intent to assign or sell equitable interest to homeowners. They must clearly detail their interest in the property to prevent confusion during transactions. This transparency benefits both sellers and investors by creating clearer communication.
Under the Wholesale Disclosure Act (SB 909) and the Wholesale Real Estate Practices Act (HB 1370), wholesalers must provide written disclosure about their role and intent in the transaction. Failure to comply can lead to legal consequences, ensuring ethical wholesaling practices.
Yes. Tennessee law requires wholesalers to register through the Tennessee Real Estate Commission as part of HB 1370. This registration aims to regulate wholesale real estate practices and holds wholesalers accountable under state law.
Violations of wholesaling regulations under HB 1370 can result in fines up to $10,000 per occurrence. This penalty structure emphasizes Tennessee’s commitment to maintaining transparency and lawful behavior in real estate investing.
New investors must familiarize themselves with Tennessee’s wholesaling laws to ensure compliance. Written disclosures, registration, and transparency are now mandatory, making it crucial for investors to adopt best practices to avoid fines and legal issues.
Currently, the legislation does not specify exemptions from disclosure or registration requirements for wholesalers, meaning most active wholesaling transactions in Tennessee must comply with these laws.
By enforcing clear disclosure and registration, Tennessee’s wholesaling legislation enhances market integrity and protects homeowners from misunderstandings. This promotes trust and encourages responsible investing practices statewide.
Real estate agents must comply with all wholesaling laws, including disclosure and registration. While they can engage in wholesaling, they are held to the same standards and legal requirements to ensure ethical transactions.
For up-to-date details and compliance guidance, consult the Tennessee Real Estate Commission and review SB 909 and HB 1370. Staying informed helps investors and wholesalers conduct business legally and ethically in Tennessee.
Not legal advice. Consult a licensed real estate attorney in Tennessee for guidance on compliance.