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 - Fraudulent Conveyances and Devises

  • Affiliate: means :

    1. 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:
      1. As a fiduciary or agent without sole discretionary power to vote the securities. See Tennessee Code 66-3-302
      2. Asset: means property of a debtor, but the term does not include:

        1. Property to the extent it is encumbered by a valid lien. See Tennessee Code 66-3-302
        2. Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
        3. Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
        4. 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
        5. 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
        6. 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.
        7. Contract: A legal written agreement that becomes binding when signed.
        8. 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.
        9. Creditor: means a person who has a claim. See Tennessee Code 66-3-302
        10. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
        11. Debt: means liability on a claim. See Tennessee Code 66-3-302
        12. Debtor: means a person who is liable on a claim. See Tennessee Code 66-3-302
        13. Deed: The legal instrument used to transfer title in real property from one person to another.
        14. Devise: To gift property by will.
        15. Donee: The recipient of a gift.
        16. 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
        17. 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.
        18. Fiduciary: A trustee, executor, or administrator.
        19. 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
        20. Fraud: Intentional deception resulting in injury to another.
        21. Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
        22. Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
        23. Grantor: The person who establishes a trust and places property into it.
        24. Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
        25. Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
        26. Insider: includes :

          1. If the debtor is an individual:
            1. A relative of the debtor or of a general partner of the debtor. See Tennessee Code 66-3-302
            2. Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
            3. 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
            4. Lien: A claim against real or personal property in satisfaction of a debt.
            5. 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
            6. Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
            7. 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.
            8. 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.
            9. Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
            10. 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
            11. Property: includes both personal and real property. See Tennessee Code 1-3-105
            12. Property: means anything that may be the subject of ownership. See Tennessee Code 66-3-302
            13. 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
            14. Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
            15. 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
            16. Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
            17. 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
            18. 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
            19. Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105