{"data":{"id":"us-tn/tenn.-code-ann.-66-32-204","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 66-32-204","heading":"Exemptions","body":"This part does not apply to any of the following:\n(1) An offer or disposition other than in the ordinary course of business by any holder of a purchase money lien, including any assignee thereof, who acquires a vacation club interest as a result of an owner's default with respect to the owner's purchase money financing obligations, whether such vacation club interest is acquired by foreclosure, the acceptance of a deed in lieu thereof, or other legal or equitable means;\n(2) A gratuitous disposition;\n(3) A disposition by devise, descent, or distribution or a disposition to an inter vivos trust;\n(4) An offer or disposition of a vacation club interest by an owner other than a developer, unless such owner makes such offer and disposition in the ordinary course of its business; or\n(5) An offer or disposition of a vacation club interest that is part of a duly registered vacation club pursuant to the laws of a state with the same or more stringent requirements as this state.","path":["TN Code","Title 66","Chapter 32"],"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":"fc763ac11b2542a109241ccaedda43d89ca3d505ab94b5e40afc50f0b81ec1aa","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-66-32-203","next":"us-tn/tenn.-code-ann.-66-32-205"},"notice":"GroundRules: Original legal text. Not legal advice."}