Terms Used In Tennessee Code > Title 31 > Chapter 7 - Tennessee Disclaimer of Property Interests Act

• Actuarial equivalent: means a benefit of equal value when computed at regular interest upon the basis of the mortality tables last adopted for such purpose by the board of trustees. See Tennessee Code 8-34-101
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Decedent: A deceased person.
• disabled: means the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than twelve (12) months. See Tennessee Code 8-34-101
• Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Tennessee Code 31-7-102
• Disclaimed interest: means the interest that would have passed to the disclaimant had the disclaimer not been made. See Tennessee Code 31-7-102
• Disclaimer: means the refusal to accept an interest in or power over property. See Tennessee Code 31-7-102
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means a personal representative, trustee, agent acting under a power of attorney, or other person authorized to act as a fiduciary with respect to the property of another person. See Tennessee Code 31-7-102
• Inter vivos: Transfer of property from one living person to another living person.
• Intestate: Dying without leaving a will.
• Jointly held property: means property held in the name of two (2) or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. See Tennessee Code 31-7-102
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Month: means a calendar month. See Tennessee Code 1-3-105
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Person: means an individual. See Tennessee Code 31-7-102
• Personal representative: includes executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status. See Tennessee Code 31-1-101
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Tennessee Code 31-1-101
• Quorum: The number of legislators that must be present to do business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Retirement: means withdrawal from membership with a retirement allowance granted under Chapters 34 37 of this title. See Tennessee Code 8-34-101
• Retirement allowance: means the sum of the member annuity and the state annuity. See Tennessee Code 8-34-101
• Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Service: means service as a general employee, a teacher, a state police officer, a wildlife officer, a firefighter, a police officer, a state judge, a county judge, an attorney general, a commissioner or a county official which is paid for by an employer, and also includes service for which a former member of the general assembly is entitled to under former §. See Tennessee Code 8-34-101
• signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
• State: means the state of Tennessee. See Tennessee Code 8-34-101
• State: includes an Indian tribe or band, or Alaskan native village, recognized by federal law or formally acknowledged by a state. See Tennessee Code 31-7-102
• Statute: A law passed by a legislature.
• Trust: means :
  
  
  1. An express trust, charitable or noncharitable, with additions thereto, whenever and however created. See Tennessee Code 31-7-102
  2. Trustee: A person or institution holding and administering property in trust.
  3. United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  4. written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
  5. Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105