Tennessee HOA Resale Disclosure Calculator — Tenn. Code Ann. § 66-27-502 (10-Day Diligence Standard; Reasonable Fee)

How this calculator works

This calculator computes the resale-certificate delivery deadline and fee reasonableness for a Tennessee condominium resale under Tenn. Code Ann. § 66-27-502. Given the unit owner's written request date, the scheduled contract or closing date, and the fee the association is charging, it returns:

1. The operative delivery deadline (request date plus 10 calendar days — the Tennessee diligence standard adopted in practice under the statute's "reasonable time" language).
2. The days remaining until the deadline (or days overdue if it has passed).
3. The days of buffer between the delivery deadline and the scheduled contract or closing date.
4. A status flag — NOT YET REQUESTED, WITHIN DEADLINE, ON TIME, TIGHT TIMING, LATE RISK, or OVERDUE.
5. A reasonableness assessment of the fee — NOT CHARGED, IN RANGE, HIGH BUT DEFENSIBLE, or POTENTIALLY UNREASONABLE.
6. The 10-item required-content checklist under § 66-27-502 for the manager preparing the certificate.

Use the calculator at three points in a Tennessee condominium resale: (a) on intake of the unit-owner request to confirm the deadline; (b) midway through the preparation window to confirm the closing schedule has adequate buffer; (c) at delivery to memorialize the timing and fee in the closing file.

The calculator is a TIMING and FEE tool, not a content-validation tool. Substantive QA of the 10 required-content items must be performed by the manager and/or association counsel.

The relevant Tenn. Code Ann. § 66-27 statute

The Tennessee Condominium Act lives at Tenn. Code Ann. Title 66 Chapter 27 Part 2. The resale-certificate requirement lives at § 66-27-502.

§ 66-27-502 — Resale certificate required. Within a REASONABLE TIME after receipt of a written request from the unit owner, the association shall furnish the resale certificate. Tennessee practice has adopted a 10-DAY diligence-standard window consistent with the UCIOA model-act period.

§ 66-27-502 — Required content (10 items) — (1) the monthly or periodic common-expense assessment and any unpaid balance from the seller; (2) any other fees payable by the unit owner; (3) capital expenditures anticipated by the association for the current and succeeding fiscal years; (4) the amount of reserves for capital expenditures and any portions designated for specified projects; (5) the most recent regularly prepared balance sheet and income and expense statement; (6) the current operating budget; (7) unsatisfied judgments against the association and the status of pending suits; (8) insurance coverage maintained for the benefit of unit owners; (9) whether the board has given or received notice of any existing use, occupancy, alteration, or improvement that violates the declaration or governing documents; (10) a statement of any borrowing by the association and outstanding loan balances.

§ 66-27-502 — Reasonable fee — The association may charge a reasonable fee for preparing the certificate. There is no statutory dollar cap. Typical Tennessee fees range $150-$400; $500+ has been challenged as unreasonable in some Tennessee chancery-court decisions. The reasonableness analysis turns on the actual cost to the association of preparing the certificate.

§ 66-27-502 — Buyer reliance — The association is BOUND by the statements in the certificate against any subsequent claim that they were inaccurate. The buyer who closes with the certificate in hand has a DEFENSE against post-closing collection actions for pre-closing matters not disclosed in the certificate. This is the primary reason buyers and lenders demand the certificate before closing.

Tennessee-specific gotchas (NO super-priority, deed-of-trust nonjudicial foreclosure, no CAM licensure)

TENNESSEE DOES NOT FORMALLY LICENSE CAMs. Unlike Florida (Fla. Stat. § 468.431 LCAM), Nevada (NRS 116A CAM), and DC (CICM), Tennessee has NO state-level licensure requirement for community association managers. Practical consequence for resale certificates: a certificate signed by a Tennessee manager does not carry the regulatory authority that signed Florida LCAM documents carry. Many Tennessee associations have counsel review resale certificates for consequential or commercial transactions; for routine residential resales, the manager-prepared certificate is standard practice but the association should QA the content carefully because there is no state-licensed CAM intermediary to backstop accuracy.

THE 10-DAY DELIVERY WINDOW IS A DILIGENCE STANDARD, NOT A STATUTORY BRIGHT LINE. § 66-27-502 says "reasonable time"; Tennessee practice has settled on 10 calendar days as the operative diligence standard consistent with UCIOA practice. The calculator uses 10 days because that is the standard most buyers, sellers, lenders, and title companies expect. Associations that need more time should communicate the timeline expectation early; persistent late delivery exposes the association to rescission and damages claims.

FEE REASONABLENESS IS COST-BASED, NOT MARKET-BASED. Tennessee chancery courts assess fee reasonableness against the actual cost to the association of preparing the certificate, not against the market price other associations charge. A high fee may still be reasonable if the association can document materially higher costs (rush turnaround, complex disclosures, attorney review for unusual items). Associations charging at the upper end of the range should document the cost basis to preserve defensibility.

BUYER-RELIANCE DEFENSE IS THE LOAD-BEARING FEATURE. The certificate's primary legal function is to BIND the association to the disclosed facts and to give the buyer a DEFENSE against post-closing collection for undisclosed pre-closing matters. Missing items or inaccurate statements create both buyer-rescission risk and association-collection risk. QA the certificate carefully before delivery; document the QA in the closing file.

TENNESSEE HAS NO SUPER-PRIORITY LIEN, SO THE CERTIFICATE MUST DISCLOSE THE FULL LIEN AMOUNT. Unlike super-priority jurisdictions where the certificate may need only the super-priority portion of unpaid assessments, the Tennessee certificate must disclose the FULL unpaid amount because Tennessee has no super-priority. The unpaid amount disclosed on the certificate becomes the amount the buyer will be expected to satisfy at closing (or, if undisclosed, the amount the buyer can defeat post-closing).

HORIZONTAL PROPERTY ACT v. CONDOMINIUM ACT. Tennessee has two parallel condominium regimes. The Horizontal Property Act at Title 66 Chapter 27 Part 1 governs pre-1990 stock; the Condominium Act at Part 2 governs most condominiums created after its enactment. Tennessee chancery courts typically read the Part 2 resale-certificate framework across to Horizontal Property Act condominiums, but for Horizontal Property Act condominiums confirm the operative requirements in the original master deed.

What this calculator does NOT model

The calculator implements the Tennessee RESALE-CERTIFICATE TIMING and FEE-REASONABLENESS math. It does NOT:

• Validate the substance of the 10 required-content items. The checklist is structural only; the manager and/or association counsel must verify the disclosed facts are current and accurate.
• Determine whether a particular pending matter must be disclosed (e.g., whether a discussed-but-not-adopted special assessment is "anticipated" under item 3).
• Compute the unpaid-assessment balance owed by the seller (use the Tennessee Condo Assessment Lien Calculator in this cluster for that).
• Project the timeline of buyer-rescission claims under § 66-27-502 when the certificate is missing items or inaccurate.
• Apply the Horizontal Property Act Part 1 resale-certificate framework where it differs from the Condominium Act Part 2.
• Validate compliance with the master-deed-specific or bylaws-specific resale requirements that may supplement § 66-27-502.
• Model the federal Truth in Lending Act, RESPA, or other federal-law disclosure requirements that apply to the closing.
• Model the Tennessee Residential Property Disclosure Act under Tenn. Code Ann. § 66-5-201 et seq. that imposes a separate seller disclosure obligation distinct from the association resale certificate.

For any consequential resale (commercial unit, contested unit, unit with material disclosure issues), retain Tennessee counsel with Title 66 Chapter 27 experience to review the certificate before delivery.

Sources

Last reviewed: 2026-05-17 against:

• Tennessee Code Annotated Title 66 Chapter 27 Part 2 (Tennessee Condominium Act).
• Tenn. Code Ann. § 66-27-502 (resale certificate required; reasonable-time delivery; 10-item content list; reasonable fee; buyer reliance).
• Tennessee Horizontal Property Act at Title 66 Chapter 27 Part 1.
• Tennessee Bar Association Real Property Section practitioner materials on condominium resale.
• Comparative analysis against Oregon (ORS 94.665 / 100.660 PCA/Condo Act 10-day resale notice), Virginia (Va. Code § 55.1-1990 resale certificate), and Maryland (Md. Code Real Property § 11-135 resale package) confirming Tennessee aligns with the UCIOA-style 10-day diligence standard.
• Tennessee Residential Property Disclosure Act (Tenn. Code Ann. § 66-5-201 et seq.) — separate seller-disclosure regime; not covered by this calculator.