Restrictions on Foreign Ownership of Tennessee Real Property Under Tenn. Code Ann. §§ 66-2-101 to 306 (2023 Tenn. Pub. Acts, ch. 369) - Articles

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Restrictions on Foreign Ownership of Tennessee Real Property Under Tenn. Code Ann. §§ 66-2-101 to 306 (2023 Tenn. Pub. Acts, ch. 369)

Posted by: Stacey Shrader Joslin on Oct 20, 2023

Court: TN Attorney General Opinions

Hearing Date: 10/02/2023

Opinion Number: 10

Question: Does 2023 Tenn. Pub. Acts, ch. 369 (codified at Tenn. Code Ann. §§ 66-2-101 to 306) prohibit foreign ownership of Tennessee real property, and if so, what is the scope of the prohibition?

Opinion: Public Chapter 369 (codified at Tenn. Code Ann. §§ 66-2-101 to 306) is not a blanket prohibition of foreign ownership of Tennessee real property. It does, however, prohibit the purchase or other acquisition of Tennessee real property by “sanctioned foreign businesses,” “sanctioned foreign governments,” and “sanctioned nonresident aliens”—including any of their agents, trustees, and fiduciaries—as those terms are defined in the statute.

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