Answered on May 15th, 2016 at 5:33 AM
Let me start by saying that I am not an expert in the area of contracting law. You did not say if the seller is a contractor who builds houses or just an individual who built his own home and then sold it to you. Most contractors who build houses will provide a warranty of some kind. I did go to the statute that you cited in your question. My reading of the statute and the annotations is that this statute is intended to address the issue of when a contractor is allowed to recover its expenses when the issue of whether it is licensed or not licensed and it sets monetary statutory limits for those. I do not read the statute to say that it has to keep the house for two years before it can sell the house.
If you would like to contact me personally by either phone or email, you may do so as follows: Patrick Johnson, Johnson, Scruggs & Barfield, 95 White Bridge Road, S. 508, Nashville, Tennessee, 37205, email: email@example.com; Cell: 615-646-9417; Office: 615-352-8326