Tennessee Statutes
§ 66-27-706 — Special assessment levies for nonessential amenities - Requirements - Foreclosure prohibited
Tennessee·Title 66
(a)A homeowners' association seeking to levy a special assessment on its members for a nonessential amenity must:
(1)Pass the assessment by at least a two-thirds (2/3) majority vote of the total members in the homeowners' association; and (2) Provide members with financing or a payment plan over a defined period of time.
(b)If a member of the homeowners' association fails to pay a special assessment for a nonessential amenity, then the homeowners' association shall not take a foreclosure action against the property or the member for failure to pay the special assessment.
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Tennessee § 66-27-706 (Special assessment levies for nonessential amenities - Requirements - Foreclosure prohibited) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by 2024 Tenn. Acts, ch. 691,s 3, eff. 7/1/2024.
Nearby Sections
15
§ 66-1-102
Estates tail abolished§ 66-1-103
Rule in Shelley's case abolished§ 66-1-107
Survivorship in joint tenancy abolished§ 66-1-108
Survivorship in partnership property§ 66-1-111
Doctrine of worthier title abolished§ 66-1-201
Short title