Tennessee Residential Property Condition Disclosure
Tennessee Code §66-5-202 requires sellers to complete a Residential Property Condition Disclosure form and provide it to buyers before or upon contract execution.
The form covers:
Lead Paint
Required for pre-1978 homes (a significant portion of Memphis housing stock).
Tennessee Realty Transfer Tax
Tennessee charges a realty transfer tax of $0.37 per $100 of consideration. On a $240,000 sale: $888. Additionally, Shelby County may charge a local privilege tax — confirm with your title company.
No Attorney Requirement
Tennessee does not require an attorney for residential closings. Title companies handle escrow in Memphis.
Flood Zone — Mississippi River
Parts of Memphis and Shelby County are in FEMA flood zones near the Mississippi River and Wolf River harbor. Disclose flood zone status if applicable. Flood insurance in SFHA zones is required for federally backed mortgages.
Seller's Exemption Option
Tennessee's disclosure law allows sellers to state they have "no actual knowledge" of defects rather than affirmatively disclosing known issues. However, intentional concealment of known material defects is still actionable.
Download Tennessee disclosure forms and find flat fee MLS services.