HB3707 - Tennessee - Homestead Exemptions

Companion Bill SB3197. Homestead Exemptions - Clarifies that $25,000 homestead exemption is only available to primary residential parent when parents are divorced or legally separated or to person with actual legal custody of child. - Amends TCA Title 26, Chapter 2, Part 3. Fiscal Summary for HB3707 / *SB3197MINIMAL Bill Summary for HB3707 / *SB3197 Present law provides a homestead exemption of up to $25,000 for real property that is owned and used as a principal place of residence by an individual who has one or more minor children in the individual's custody. The homestead exemption is not subject to execution, attachment, or sale under legal proceedings. This bill specifies that the exemption is available only to the following individuals: (1) The parents of a child jointly if the child's parents are married and living together;[...]

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