Tennessee § 4-13-307 - Revocability of trust.

§ 4-13-307. Revocability of trust.

The state may revoke this trust at will. Acts 1931, ch. 92, § 4. Compiler's Notes. Acts 2018, ch 782, § 1 provided that pursuant to Tennessee Code Annotated, § 4-13-307 , the trust created by Tennessee Code Annotated, § 4-13-301 is hereby revoked in part, such partial revocation to apply to the following property: A parcel of land in the Town of Smyrna, Rutherford County, Tennessee, bounded on the north and west by the remaining land of the Sam Davis Memorial Association (map 27, parcel 6.00), on the east by the west right-of-way for Nissan Drive and on the south by the north right-of-way for Sam Davis Road, being described as follows: Beginning at a point at the intersection of the north right-of-way for Sam Davis Drive and the west right-of-way for Nissan Drive; thence with the north right-of way for Sam Davis Drive, westerly, 52 feet more or less; thence with a new line severing the lands of the Sam Davis Memorial Association, being parallel with the west right-of-way for Nissan Drive, northerly 678 feet more or less; thence easterly, 275 feet more or less to a point in the west right-of-way for Nissan Drive; thence with the west right-of-way of Nissan Drive, in a southerly direction, 450 feet, more or less to the beginning of a curve to the right; thence with the west right-of-way for Nissan Drive, with a curve to the right, 353 feet more or less to the point of beginning, having an area of 4 acres, more or less. Acts 2018, ch 782, § 2 provided that § 1 of the act shall be effective only upon the Sam Davis Association obtaining a waiver under the Tennessee Heritage Protection Act from the Tennessee Historical Commission, pursuant to Tennessee Code Annotated, § 4-1-412 . lf the Sam Davis Association is granted a waiver, then the property described in § 1 reverts to the Sam Davis Memorial Association and does not revert to this state. The Sam Davis Memorial Association may sell the property and use the proceeds to finance repairs and upkeep of the property remaining in the trust.