Public Chapter 354
HOUSE BILL NO. 1289
By Representative Fowlkes
Substituted for: Senate Bill No. 1634
By Senator Fowler
AN ACT to amend Tennessee Code Annotated, Title 35, Chapter 1, Part 1, relative to venue for trusts.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Title 35, Chapter 1, Part 1, is amended by adding the following as a new section to be appropriately designated:
(a) When a Tennessee court has jurisdiction of any trust, testamentary or inter vivios, except as otherwise provided by law, the venue for all purposes shall be in the county which is the situs of the trust. The situs of the trust shall remain in the county of the court which first assumed jurisdiction of the trust, unless such court orders a change of situs as provided in subsection (b).
(b) Nothwithstanding any other provisions of this chapter, a court having jurisdiction of a testamentary or inter vivos trust, on application of a trustee or of any party in interest, after proper notice to all parties interest, and after an accounting and provision to insure the proper payment of all taxes owed to the state and any other political subdivision thereof, may direct that the situs of the trust shall be changed to any other place in or out of the state if the court finds the change necessary or desirable for the proper administration of the trust. Upon such change of situs becoming effective by the assumption of jurisdiction by another court, the jurisdiction of the court as to the trust shall cease, and the situs of the trust for all purposes shall be as directed by the court.
SECTION 2 . This act shall take effect upon becoming a law, the public welfare requiring it.