Tennessee § 66-27-506 - Escrow of deposits.
Full text of Tennessee Tennessee Code Annotated § 66-27-506 — Escrow of deposits., with citation guidance and answers to common questions.
§ 66-27-506. Escrow of deposits.
Any deposit made in connection with the purchase or reservation of a unit from a declarant shall be placed in escrow and held in this state in an account designated solely for that purpose by a licensed title insurance company or agent of the licensed title insurance company, an attorney, a licensed real estate broker, or an independent bonded escrow company, and shall be deposited in an institution whose accounts are insured by a governmental agency or instrumentality, or any other lawful escrow or trust account, until: Delivered to the declarant at closing; Delivered to the declarant because of purchaser's default under a contract to purchase the unit; Refunded to the purchaser; Interpleaded into a court of appropriate jurisdiction; or Disbursed pursuant to a final order of a court of appropriate jurisdiction. Acts 2008, ch. 766, § 1.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 66-27-506
What does Tennessee Code Annotated § 66-27-506 cover?
Section 66-27-506 ("Escrow of deposits.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 66-27-506?
A common citation format is "Tennessee Code Annotated § 66-27-506" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 66-27-506 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.