|Part 1||Conveyances||66-3-101 – 66-3-104|
|Part 2||Devises||66-3-201 – 66-3-204|
|Part 3||Uniform Fraudulent Transfer Act||66-3-301 – 66-3-313|
Terms Used In Tennessee Code > Title 66 > Chapter 3
- Affiliate: means :
(A) A person who directly or indirectly owns, controls, or holds with power to vote, twenty percent (20%) or more of the outstanding voting securities of the debtor, other than a person who holds the securities:
(i) As a fiduciary or agent without sole discretionary power to vote the securities. See Tennessee Code 66-3-302
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Arrest: Taking physical custody of a person by lawful authority.
- Asset: means property of a debtor, but the term does not include:
(A) Property to the extent it is encumbered by a valid lien. See Tennessee Code 66-3-302
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Tennessee Code 66-3-302
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- 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.
- Creditor: means a person who has a claim. See Tennessee Code 66-3-302
- Custody: means under arrest by a law enforcement officer or under restraint by a public servant pursuant to an order of a court. See Tennessee Code 39-16-601
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Debt: means liability on a claim. See Tennessee Code 66-3-302
- Debtor: means a person who is liable on a claim. See Tennessee Code 66-3-302
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Defendant: means a person accused of an offense under this title and includes any person who aids or abets the commission of such offense. See Tennessee Code 39-11-106
- Devise: To gift property by will.
- Donee: The recipient of a gift.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Felony: A crime carrying a penalty of more than a year in prison.
- Fiduciary: A trustee, executor, or administrator.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- Highway: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Insider: includes :
(A) If the debtor is an individual:
(i) A relative of the debtor or of a general partner of the debtor. See Tennessee Code 66-3-302
- Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
- Law enforcement officer: means an officer, employee or agent of government who has a duty imposed by law to:
(A) Maintain public order. See Tennessee Code 39-11-106
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See Tennessee Code 66-3-302
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Oath: means a solemn and formal undertaking to tell the truth and includes an equivalent affirmation permitted by law as a substitute for an oath administered by a person authorized by law to take statements under oath. See Tennessee Code 39-16-701
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Official proceeding: means any type of administrative, executive, judicial, or legislative proceeding that is conducted before a public servant authorized by law to take statements under oath in that proceeding. See Tennessee Code 39-16-701
- Official proceeding: means any type of administrative, executive, legislative or judicial proceeding that may be conducted before a public servant authorized by law to take statements under oath. See Tennessee Code 39-11-106
- 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.
- Penal institution: includes any institution or facility used to house or detain a person:
(A) Convicted of a crime. See Tennessee Code 39-16-601
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Person: means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity. See Tennessee Code 66-3-302
- Person: includes the singular and the plural and means and includes any individual, firm, partnership, copartnership, association, corporation, governmental subdivision or agency, or other organization or other legal entity, or any agent or servant thereof. See Tennessee Code 39-11-106
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Property: means anything that may be the subject of ownership. See Tennessee Code 66-3-302
- Public servant: means :
(A) Any public officer or employee of the state or of any political subdivision of the state or of any governmental instrumentality within the state including, but not limited to, law enforcement officers. See Tennessee Code 39-11-106
- real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
- Relative: means an individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree. See Tennessee Code 66-3-302
- 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
- Statement: means any representation of fact. See Tennessee Code 39-16-701
- Summons: Another word for subpoena used by the criminal justice system.
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Tennessee Code 66-3-302
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- Valid lien: means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings. See Tennessee Code 66-3-302
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105