Tennessee § 66-2-305 Prohibited foreign party businesses prohibited from acquiring or devising non-agricultural land - Penalties

Tennessee Statutes

§ 66-2-305 — Prohibited foreign party businesses prohibited from acquiring or devising non-agricultural land - Penalties

Tennessee § 66-2-305

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This text of Tennessee § 66-2-305 (Prohibited foreign party businesses prohibited from acquiring or devising non-agricultural land - Penalties) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 66-2-305 (2026).

Text

(a)(1) A prohibited foreign-party-controlled business shall not acquire by grant, purchase, devise, descent, or otherwise an interest in non-agricultural land in this state.

(2)A party shall not hold an interest in non-agricultural land as an agent, trustee, or other fiduciary for a prohibited foreign-party-controlled business.

(3)A prohibited foreign-party-controlled business that acquires non-agricultural land in violation of this section remains in violation as long as the prohibited foreign-party-controlled business holds an interest in the non-agricultural land.

(b)(1) A prohibited foreign-party-controlled business in violation of this section shall divest itself of the interest in non-agricultural land within two (2) years of the date the entity is found to be in violation.

(2)I

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(a) (1) A prohibited foreign-party-controlled business shall not acquire by grant, purchase, devise, descent, or otherwise an interest in non-agricultural land in this state. (2) A party shall not hold an interest in non-agricultural land as an agent, trustee, or other fiduciary for a prohibited foreign-party-controlled business. (3) A prohibited foreign-party-controlled business that acquires non-agricultural land in violation of this section remains in violation as long as the prohibited foreign-party-controlled business holds an interest in the non-agricultural land. (b) (1) A prohibited foreign-party-controlled business in violation of this section shall divest itself of the interest in non-agricultural land within two (2) years of the date the entity is found to be in violation. (2) If a prohibited foreign-party-controlled business does not divest itself of the interest in non-agricultural land as prescribed in subdivision (b)(1), then the attorney general and reporter may commence an action pursuant to § 66-2-307 . (c) A violation of this section is a Class A misdemeanor, punishable by a fine of one thousand five hundred dollars ($1,500) or confinement for not more than eleven (11) months and twenty-nine (29) days, or both.