Vested right to lease residential property

The owner of a property subject to a declaration that is amended to prohibit, or effectively prohibit, the use of single family residential real property as long-term rental property during the period of the owner's ownership of the property has a vested right to use the property as long-term rental property until the owner transfers the property. Added by 2021 Tenn. Acts, ch. 151, s 1, eff. 5/1/2021. The owner of a property subject to a declaration that is amended to prohibit, or effectively prohibit, the use of single family residential real property as long-term rental property during the period of the owner's ownership of the property has a vested right to use the property as long-term rental property until the owner transfers the property. Added by 2021 Tenn. Acts, ch. 151, s 1, eff. 5/1/2021.