• As used in this chapter, unless the context clearly indicates otherwise:
    • (1) “Board of directors” or “board” means the board of directors or other similar governing body of the corporation;

    • Terms Used In Tennessee Code 13-30-103

      • board: means the board of directors or other similar governing body of the corporation. See Tennessee Code 13-30-103
      • Corporation: means a corporation created pursuant to this chapter to operate a land bank. See Tennessee Code 13-30-103
      • Land bank: means real property, however obtained or acquired and held by a corporation, created pursuant to this chapter, with the intent of acquiring and holding onto the real property so acquired until such a time as the corporation is able to find a willing and able buyer to acquire the real property from the corporation. See Tennessee Code 13-30-103
      • Property: includes both personal and real property. See Tennessee Code 1-3-105
      • Real estate: means an identified parcel or tract of land, including improvements, if any. See Tennessee Code 13-30-103
      • Real property: means one (1) or more defined parcels or tracts of land or interests, benefits and rights inherent in the ownership of real estate. See Tennessee Code 13-30-103

      (2) “Corporation” means a corporation created pursuant to this chapter to operate a land bank;

    • (3) “Land bank” means real property, however obtained or acquired and held by a corporation, created pursuant to this chapter, with the intent of acquiring and holding onto the real property so acquired until such a time as the corporation is able to find a willing and able buyer to acquire the real property from the corporation;

    • (4) “Local government” means:

      • (A) Any home rule municipality;

      • (B) Any county having a population of not less than one hundred twenty-three thousand one (123,001) nor more than one hundred twenty-three thousand one hundred (123,100), according to the 2010 federal census or any subsequent federal census;

      • (C) Any county having a population of not less than eighty-nine thousand eight hundred (89,800) nor more than eighty-nine thousand nine hundred (89,900), according to the 2010 federal census or any subsequent federal census;

      • (D) Any county having a metropolitan form of government; or

      • (E) Any municipality having a population of not less than forty-eight thousand two hundred (48,200) nor more than forty-eight thousand two hundred nine (48,209), according to the 2010 federal census or any subsequent federal census;

      • (F) Any municipality having a population of not less than forty-one thousand (41,000) nor more than forty-two thousand (42,000), according to the 2010 federal census or any subsequent federal census; and

      • (G) Any county having a population of not less than twenty-seven thousand two hundred (27,200) nor more than twenty-seven thousand three hundred (27,300), according to the 2010 federal census or any subsequent federal census;

    • (5) “Real estate” means an identified parcel or tract of land, including improvements, if any; and

    • (6) “Real property” means one (1) or more defined parcels or tracts of land or interests, benefits and rights inherent in the ownership of real estate.