§ 56-7-801 Inspection of property insured against fire – No insurance exceeding fair value of property
§ 56-7-802 Measure of damages for loss by fire – Insured reimbursed for excess premiums
§ 56-7-803 Measure of damages in case of agent’s failure to inspect property
§ 56-7-804 Policies protecting trustees, mortgagees, assignees and like parties

Terms Used In Tennessee Code > Title 56 > Chapter 7 > Part 8 - Fire Insurance

  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • Trustee: A person or institution holding and administering property in trust.