TN HB0986

Abolishes and makes unenforceable all reverter or forfeiture provisions of unlimited duration in deeds, wills, or other documents executed more than 75 years prior to July 1, 2025

Limits future reverter and forfeiture provisions to a maximum duration of 75 years from the date of conveyance, after which the property automatically converts to fee simple absolute ownership

Prohibits the creation of new fee simple determinable, fee simple subject to condition subsequent, and fee simple subject to executory limitation estates after July 1, 2025

Allows property owners with existing reversionary interests to file a sworn statement with the county register of deeds by July 1, 2026, to preserve their rights for an additional 5-year period

Converts all terminated reversionary estates to fee simple absolute title in the current property owner, barring any legal actions to recover or forfeit the interest