Bill > HB1903

This bill expands the definition of who can benefit from a homestead exemption, which is a legal protection that prevents a person's primary residence from being sold to satisfy certain debts. Specifically, it clarifies that upon the death of the head of a household, the homestead exemption can extend to a surviving spouse, a minor child, or a child who is eighteen years or older and has a developmental disability or intellectual disability, as long as they continue to use the property as their main home. The bill also defines "developmental disability" and "intellectual disability" by referencing another section of Tennessee law, and it updates provisions related to how homestead rights are handled in the case of a decedent's estate, including allowing for the investment of $35,000 of sale proceeds into real estate or direct payment of that amount in cash or other property to the eligible surviving family members, with an option to deposit some of that cash into an Achieving a Better Life Experience (ABLE) account for the benefit of a qualifying child.