Tennessee Code > Title 56 > Chapter 7 > Part 8


§ 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

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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.

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