Real Property - As enacted, provides that a provision of a document requiring a transferor or transferee to pay a fee, charge, assessment, dues, contribution, deposit, or other amount to purchase, issue, reissue, maintain, or transfer a club membership that is related to the real property or the community in which the property is sited is not a transfer fee covenant. - Amends TCA Title 66.

Summary

The bill amends Tennessee Code Title 66 to clarify that any fee required for a club membership related to a property is not considered a transfer fee covenant. It also revises Section 66‑4‑403(a)(1)(B) by changing the number “three (3)” to “five (5).” This change impacts real‑estate transactions and homeowners’ associations by excluding certain club fees from prohibited covenants.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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