Tennessee Code 47-32-103 – Application

(a) This chapter applies to transactions involving loans made by mortgage lenders utilizing settlement agents, which loans shall be secured by deeds of trust or mortgages on real estate, on the following:

Terms Used In Tennessee Code 47-32-103

Agricultural land: means land used for agriculture, as defined in §. See Tennessee Code 47-32-102
Mortgage: means a "mortgage" or "deed of trust" as defined in and allowed pursuant to §. See Tennessee Code 47-32-102
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Property: includes both personal and real property. See Tennessee Code 1-3-105

(1) Dwellings containing not more than four (4) residential units, regardless of the purpose of such dwellings;

(2) Vacant lots zoned or designated for use as residential property; or

(3) Agricultural land.

(b) This chapter does not apply to transactions involving loans made by mortgage lenders on:

(1) Commercial real estate; or

(2) Industrial or other real estate not included in subsection (a).

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Tennessee Code 47-32-103 – Application

Terms Used In Tennessee Code 47-32-103

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