Amends TCA Title 8, Chapter 13; Title 35; Title 39, Chapter 17; Title 45; Title 47; Title 66 and Section 67-4-409.

Generally, under present law, it is a Class E felony, for a person to knowingly cause to be prepared, sign, or file records of any property transfer document when the transferor, grantor, or person applying for registration knows or should know by an examination of the public records, that the transferor or grantor has no legal nor equitable interest to convey, or when there is no reasonable basis for the assumption that the transferor or grantor has any interest in the property. For such offenses occurring on or after July 1, 2023, this bill increases the penalty from a Class E felony to a Class D felony.<br /> <br /> This bill also establishes that each county office of register of deeds must offer a property fraud alert program to property owners at no cost. The program must allow property owners to register the property owner's name and address and must notify property owners when a document is recorded that contains the property owner's name or address to combat property and mortgage fraud. However, this bill clarifies that a county office of register of deeds is only required to provide this program if the county legislative body specifically appropriates funds sufficient to pay the costs of providing the program. This bill does not require a county office of register of deeds to provide such program from the general funds annually appropriated to the county office of the register of deeds.<br />