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Terms Used In Tennessee Code 35-3-102

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Testator: A male person who leaves a will at death.

All trustees, guardians and other fiduciaries in this state, unless prohibited, or another mode of investment is prescribed by the will or deed of the testator or other person establishing the trust, may invest all funds in their hands in securities specified in §§ 35-3-103 – 35-3-111, and may also invest funds in income-producing commercial or residential property.