Terms Used In Tennessee Code > Title 13 > Chapter 6 - Neighborhood Preservation Act

• Acceptable petitioner: means :
  (A) Any nonprofit corporation. See Tennessee Code 13-6-102
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the mayor and the aldermen. See Tennessee Code 6-1-101
• Board of directors: means the board of directors of a corporation created under this part. See Tennessee Code 48-101-102
• Building: means any building or structure that is located on the subject parcel. See Tennessee Code 13-6-102
• Bylaws: means the code or codes of rules (other than the charter) adopted pursuant to chapters 51-68 of this title for the regulation or management of the affairs of the corporation irrespective of the name or names by which such rules are designated. See Tennessee Code 48-51-201
• Certified person: means any person determined by the court pursuant to §. See Tennessee Code 13-6-102
• Charter: includes amended and restated charters and articles of merger. See Tennessee Code 48-11-201
• City: means any city or territory to be incorporated that may adopt chapters 30-36 of this title. See Tennessee Code 6-30-102
• Class: when used with reference to membership interests, means a category of membership interests that differs in one (1) or more rights or preferences from another category of membership interests of the LLC. See Tennessee Code 48-202-101
• 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
• 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.
• Corporation: means a development credit corporation created under this part. See Tennessee Code 48-101-102
• County: means the county in which any such city or territory to be incorporated under chapters 30-36 of this title is located, or in which the major portion of the population of any such city or territory to be incorporated is located as indicated by the last federal census. See Tennessee Code 6-30-102
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Directors: means natural persons, designated in the charter or bylaws or elected or appointed by the incorporators, and their successors and natural persons elected or appointed to act as members of the board, irrespective of the names or titles by which such persons are described. See Tennessee Code 48-51-201
• Entity: includes the following, whether foreign or domestic: LLCs. See Tennessee Code 48-202-101
• 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.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• Governmental authority: means any court or governmental, administrative, legislative, regulatory, adjudicatory, or arbitrational body, agency, commission, department, board, bureau, tribunal, or instrumentality of the United States or of any state, commonwealth, nation, territory, possession, county, parish, or municipality, whether now or hereafter constituted or existing, having or claiming jurisdiction over the subject parcel. See Tennessee Code 13-6-102
• Interest: means either or both of the following rights under the organic law of an unincorporated entity:
  (A) The right to receive distributions from the entity either in the ordinary course or upon liquidation. See Tennessee Code 48-11-201
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Interested person: means , with respect to a subject parcel, any owner, named trustee, or other person that:
  (A) Holds, or is the assignee of the holder of, a lien against that subject parcel. See Tennessee Code 13-6-102
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Loan limit: means , for any member, the maximum amount permitted to be outstanding at one (1) time on loans made by such member to the corporation, as determined under this part. See Tennessee Code 48-101-102
• Member: means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this part, upon its call, and in accordance with this part. See Tennessee Code 48-101-102
• Membership: means the rights and obligations a member has pursuant to a corporation's charter, bylaws and chapters 51-68 of this title. See Tennessee Code 48-51-201
• Month: means a calendar month. See Tennessee Code 1-3-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Municipal corporation: means any incorporated city or any county, including any county having a metropolitan form of government, and the code enforcement department or agency or other unit responsible for enforcing building and property conditions in the territorial jurisdiction of the city or county. See Tennessee Code 13-6-102
• Nonprofit corporation: means any nonprofit corporation that has been duly organized and is in good standing under the laws of this state. See Tennessee Code 13-6-102
• 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.
• Officer: means the mayor, aldermen, city attorney and city judge. See Tennessee Code 6-1-101
• Owner: means one (1) or more persons, jointly or severally, in whom is vested all or part of the legal title to, or beneficial ownership of, the subject parcel. See Tennessee Code 13-6-102
• 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.
• Person: means any individual, firm, corporation, association, trust, partnership, joint venture, limited liability company, governmental authority, or other entity. See Tennessee Code 13-6-102
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Public nuisance: means any building that is:
  (A) A menace to the public health, welfare, or safety. See Tennessee Code 13-6-102
• Qualified buyer: means any person determined by the court to be a certified person as provided in §. See Tennessee Code 13-6-102
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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
• Receiver: means any certified person appointed by the court for the purpose of preserving or improving the subject parcel and all of the powers of a receiver appointed for tax enforcement pursuant to §. See Tennessee Code 13-6-102
• 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
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Residential property: means a subject parcel that includes one (1) or more dwelling units that is owner-occupied and the owner's principal place of residence, or that is otherwise intended for single-family residential use. See Tennessee Code 13-6-102
• Residential rental property: means a building or structure consisting of one (1) or two (2) dwelling units. See Tennessee Code 13-6-102
• Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the [former] federal savings and loan insurance corporation (FSLIC) or any successor [repealed] of such corporation. See Tennessee Code 1-3-105
• 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: 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
• Subject parcel: means a tract or item of real or personal property that becomes subject to the jurisdiction of a court pursuant to this chapter. See Tennessee Code 13-6-102
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• United States: includes district, authority, bureau, commission, department, and any other agency of the United States. See Tennessee Code 48-11-201
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105