TN HB0569

Purchasers or borrowers in Tennessee real property transactions gain the exclusive right to select the settlement agent, subject to mortgage lender approval

Selected settlement agents are exclusively authorized to provide escrow/closing services, act as title insurance agency, and perform title-clearing functions

Sellers are prohibited from requiring purchasers to use a particular settlement agent or conditioning contract performance on settlement agent selection

These purchaser rights cannot be waived or modified by any party to the transaction

Sellers may retain their own attorney for representation, but the settlement agent cannot collect fees from represented sellers without written consent from the seller's attorney; effective July 1, 2025