Tennessee guide
Tennessee condo document review
Tennessee condominium document review is anchored by the Tennessee Condominium Act of 2008 (T.C.A. §66-27-201 et seq.) for projects created on or after January 1, 2009, and the older Horizontal Property Act (T.C.A.
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§66-27-101 et seq.) for pre-2009 buildings. The first step is determining which statute governs based on the condominium's creation date. For residential condos, Part 5 (T.C.A. §§66-27-501 to 507) gives a prospective purchaser the right, on written request, to a defined information package. That package is broad — governing documents, financials, reserves, 24 months of minutes, insurance, litigation, and delinquency — but it is a disclosure right, not a quality guarantee. The value is in reading the documents together against the building's age, location, and storm exposure, because Tennessee has no regulator confirming any of it for you.
What T.C.A. §66-27-503 entitles you to request
On written or electronic request, the association (or the declarant during construction) must provide the declarant and association information, the recorded master deed or declaration, bylaws, charter, all amendments, and current rules; the most recent balance sheet, income statement, and approved or projected budget — which must state the reserve amount or that there is none, and whether a reserve study was done and where it is available; 24 months of board and member meeting minutes; the unit's current and special assessments and any delinquencies; an insurance statement; any unsatisfied judgments and pending suits against the association; an association-wide total of assessments more than 60 days past due; and whether the board is still under declarant control. Confirm the package is complete before relying on it.
Delivery timing and the narrow rescission right
Under §66-27-502, the association must provide the information within 10 business days of a written request, or at least 10 business days before closing if not yet available, and may charge a reasonable fee. If the association or declarant fails to provide it, §66-27-505 imposes a $250 penalty after the first request and $500 after a second, plus fees. A statutory right to rescind exists only where the declarant still controls the association and fails to deliver on time — there is no general resale cooling-off right. Treat any broad post-signing cancellation window as unsettled, and rely on your purchase contract's contingencies instead.
Reserves: read the study and the funded balance together
Since January 1, 2024, condos over the $10,000 common-element threshold must have a reserve study (T.C.A. §66-27-403(g)) — so a missing or overdue study is now a likely statutory non-compliance, not merely a best-practice gap. But Tennessee does not require the board to fund reserves. The most common trap is a condo that satisfies the study mandate while the reserve line is near zero. Read the §66-27-503(4) budget disclosure of the reserve amount and where the study is posted, then compare the funded balance to the study's recommendation.
Litigation, delinquency, and declarant control
The §66-27-503 package surfaces three high-signal items: disclosed pending suits and unsatisfied judgments (a built-in litigation-discovery tool), the association-wide snapshot of units more than 60 days past due, and whether the declarant still controls the board. Heavy delinquency strains cash flow and raises special-assessment risk; ongoing declarant control raises transition and the narrow §66-27-505 rescission right. Read all three before relying on the financials.
Tennessee legal references
- T.C.A. §66-27-502 — Responsibility to provide information (10-business-day delivery)
- T.C.A. §66-27-503 — Information to be provided to a purchaser
- T.C.A. §66-27-505 — Remedies; narrow declarant-control rescission
- T.C.A. §66-27-403(g) — Reserve-study requirement (effective Jan 1, 2024)
Informational only. Not legal advice. Always confirm against current statute and counsel.
Need help applying these Tennessee statutes to your specific situation? We can connect you with state-licensed counsel and specialists familiar with this exact regulatory environment.
Find a Tennessee specialist →Reviewer's checklist
- Determine which statute governs — Condominium Act of 2008 (post-2009) or Horizontal Property Act (pre-2009)
- Submit a written §66-27-502 request and confirm delivery within 10 business days / 10 days before closing
- Confirm the full §66-27-503 package is complete — documents, financials, minutes, insurance, litigation, delinquency
- Read the reserve study and compare the funded balance to its recommendation
- Confirm the reserve study is current and was distributed to owners (§66-27-403(g))
- Read 24 months of board and member minutes for assessment and repair discussion
- Review the insurance statement against §66-27-413's 80%-replacement floor
- Read the pending-litigation and unsatisfied-judgment disclosures
- Check the association-wide >60-day delinquency snapshot
- Confirm whether the declarant still controls the board, and build review time into the contract — no general statutory rescission
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Related risk areas
Read these next to round out your due diligence
Reserve studies
A reserve study tells you what the association expects to spend on long-term capital repairs and replacements, and whether it is funding those obligations adequately.
Insurance risk
The association's master insurance policy determines what your personal HO-6 policy needs to cover — and what it does not.
Governance risk
An association's governance health is a leading indicator of every other risk.
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Get Your Free Condo Risk Report
Upload condo or HOA documents for a free risk review. We read reserve studies, budgets, meeting minutes, insurance summaries, and assessment exposure — every finding linked to the exact page.
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Need a real estate lawyer or mortgage specialist?
We can connect you with vetted real estate lawyers, mortgage brokers, and insurance brokers familiar with the specifics of condo and HOA transactions.
- HOA lawyer
- Mortgage broker
- Insurance broker