TBA Law Blog


Posted by: Julia Wilburn on Nov 19, 2024

The company Walton Tennessee and three of its investors have filed a lawsuit challenging a new state law set to go into effect Jan. 1, 2025, that will prohibit people living in China, Iran, North Korea and other countries subject to the International Traffic in Arms Regulations from owning land in Tennessee. The Tennessean reports that the law states that foreign owners have to divest their property by the start of the year or face criminal prosecution and civil penalties, including eventually losing their land without compensation. The plaintiffs are a U.S. citizen living in Shanghai, an Italian citizen living in Hong Kong and a U.S. citizen in South Carolina who say that they, along with other investors living in the U.S., will lose more than $100 million if the state takes their properties.