Reserve Study Requirement in Tennessee

Question:

Does the state of Tennessee require community property associations (homeowners or property owners associations) to have a “Replacement Reserve” study performed? This study would account for those capital items which have a longer than a 1 year life and provide an estimate of their useful life along with their replacement costs.

– Daniel

 

Answer:

Hi Daniel,

In Tennessee, there is no statutory requirement to conduct a reserve study. The state also does not require HOAs to fund reserves, though it is a good idea to do both.

Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.

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