Bill > HB1903

This bill expands the homestead exemption, which is a legal protection that allows individuals to keep a certain amount of equity in their primary residence from creditors or in the event of death, to include adult children with developmental or intellectual disabilities. Specifically, upon the death of the head of a household, the homestead exemption will now extend to a surviving spouse and any minor children, as well as any child who is 18 years or older and has a developmental disability or intellectual disability, as long as they continue to use the property as their principal residence. The bill also clarifies that the terms "developmental disability" and "intellectual disability" are defined according to existing state law, and it addresses situations where the homestead property cannot be physically divided by allowing for the sale of the property and the investment of $35,000 in new real estate or the payment of $35,000 in cash or other personal property to the eligible surviving family members in lieu of homestead rights.

Justice

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1903&ga=114