Real Property - As enacted, clarifies that property that is qualified as agricultural, forest land, or open space land, owned by two individuals, and held under the titles of tenancy by the entireties or of joint tenancy with right of survivorship, is deemed to have unchanged ownership upon the death of an owner if the property is retained by the other owner through a right of survivorship or upon the divorce of the owners if the property is retained by either owner through division and distribution of property in the divorce proceeding. - Amends TCA Title 11, Chapter 14, Part 2; Title 11, Chapter 15 and Title 67, Chapter 5.

HB 297 clarifies ownership continuity for agricultural, forest, or open space land owned by two people under specific joint ownership types (tenancy by entireties or joint tenancy with right of survivorship). It states that when one owner dies or divorces, the property is deemed to retain its original ownership status if the remaining owner keeps it through survivorship rights or if a divorce court awards it to one owner. This applies only to properties already classified under Tennessee's 1976 Agricultural, Forest and Open Space Land Act. The law amends Tennessee Code Sections 67-5-1005, 67-5-1006, and 67-5-1007 to implement this change. It took effect April 3, 2025, after being signed by the Governor.