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Commonly Asked Questions about Tennessee Property Management Forms

In Georgia, youre required to have your Brokers license to start your own property management company.
The Tennessee Residential Property Disclosure Act states that anyone transferring title to residential real property must provide information about the condition of the property. This completed form constitutes that disclosure by the seller.
When purchasing your new home, your REALTOR will request the seller and sellers agent to produce the Tennessee Subsurface Sewage Disposal System Permit Disclosure. This document will state how many bedrooms the original septic system was designed for and the permit should be attached.
Code Ann. 66-5-201 et. seq. A buyer may also assert common law claims for causes of action which existed before enactment of the Tennessee Residential Property Disclosure Act for fraud, fraudulent concealment, misrepresentation or even bdocHub of contract/bdocHub of warranty.
The Residential Property Disclosure Act in Tennessee Code Annotated 66-5-201 to 210 requires most sellers of residential real estate to complete a disclosure statement. The disclosure statement lets the buyers know about the condition of the property.
The Multiple Listing Service does not require a Participant to submit listings on a form other than the form the Participant individually chooses to utilize provided the listing is of a type accepted by the Service, although the Property Data Form is required.
The owners of properties dealing with management are frequently required to have certain real estate licenses. Homeowners must be at least 18 years of age to be eligible for such a license. A real estate broker license is necessary in Tennessee to carry out a variety of managing tasks on rental properties.
Persons engaged in Property Management need an active Tennessee broker or affiliate broker real estate license and must be affiliated with a firm actively licensed in TN. Firms are required to keep records of all real estate transactions for a period of three years.