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2020 Tennessee Code
Title 35 - Fiduciaries and Trust Estates
Chapter 17 - Tennessee Community Property Trust Act of 2010
§ 35-17-105. Classification of Property as Community Property — Enforcement — Duration — Management and Control — Effect of Distributions
Universal Citation: TN Code § 35-17-105 (2020)
- Whether or not both, one or neither is domiciled in this state, spouses may classify any or all of their property as community property by transferring property to a community property trust and providing in the trust that the property is community property.
- A community property trust is enforceable without consideration.
- All property owned by a community property trust will be community property during marriage.
- The right to manage and control property that is transferred to a community property trust is determined by the terms of the trust.
- When property is distributed from a community property trust, it shall no longer constitute community property.
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