Tennessee Senate Bill 394: Insurance Companies, Agents, Brokers, Policies - As enacted, requires title insurance agencies that separately represent the buyer and seller in a real estate transaction and agree to an arrangement to share the title insurance premiums, commissions, or other fees paid by the buyer and seller, to provide written notice to the buyer and seller of such sharing arrangement and to receive signed, written acknowledgement from the buyer and seller confirming that they were so notified in writing; makes other related changes. - Amends TCA Title 56, Chapter 35 and Title 66.

Tennessee · 114 session

Status: Introduced

What it does

As introduced, authorizes a purchaser or borrower in a real property transaction to select the settlement agent to perform certain duties; authorizes the seller to retain a licensed attorney in this state to represent the seller's interests in such transaction; prohibits the designated settlement agent from collecting transaction-related fees from a represented seller without consent of the seller's attorney. - Amends TCA Title 56, Chapter 35 and Title 66.

Latest action

Comp. became Pub. Ch. 769 (2026-04-27)

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