{"data":{"id":"us-tn/tenn.-code-ann.-66-27-506","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 66-27-506","heading":"Escrow of deposits","body":"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:\n(1) Delivered to the declarant at closing;\n(2) Delivered to the declarant because of purchaser's default under a contract to purchase the unit;\n(3) Refunded to the purchaser;\n(4) Interpleaded into a court of appropriate jurisdiction; or\n(5) Disbursed pursuant to a final order of a court of appropriate jurisdiction.","path":["TN Code","Title 66","Chapter 27"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"7a929868ed0711d54aee475f5648b8d4ba1fbae0c582b7df1b08bef52fe96508","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-66-27-505","next":"us-tn/tenn.-code-ann.-66-27-507"},"notice":"GroundRules: Original legal text. Not legal advice."}