Real Property - As enacted, makes changes to law regarding restrictions on land purchases by sanctioned aliens or foreign entities. - Amends TCA Title 43; Title 44; Title 47; Title 48 and Title 66.

This law updates Tennessee's rules to restrict the purchase and ownership of agricultural land by certain foreign groups and individuals. It specifically bans entities linked to designated foreign governments, countries under international arms embargoes, and specific terrorist organizations from buying or controlling farms and timberlands. The legislation defines "agricultural land" as property used for farming, ranching, or forestry outside city limits, while also clarifying that oil, gas, and minerals are not included. To enforce these limits, the law sets ownership thresholds, such as prohibiting any single prohibited party from holding a 33% interest or a group from collectively controlling 50% of a business. These changes apply to all types of legal entities, including corporations, partnerships, and trusts, that attempt to acquire such land.