As used in this part:

(1) “Real property” means one (1) or more defined parcels or tracts of land or interests, benefits, and rights inherent in the ownership of real estate, including easements, water rights, agricultural land, or any other interest in real property;
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Terms Used In Tennessee Code 66-2-301

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Sanctioned foreign government: means a government other than the government of the United States, its states, its territories, or its possessions, that is identified by the office of foreign assets control of the U. See Tennessee Code 66-2-301
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) “Sanctioned foreign business” means:

(A) A corporation incorporated under the laws of a foreign country of a sanctioned foreign government;
(B) A business entity whether or not incorporated, in which a majority interest is owned directly or indirectly by sanctioned nonresident aliens. As used in this subdivision (2)(B), the determination of “owned,” in terms of ownership or control of a foreign business, is not affected by legal entities, including, but not limited to, trusts, holding companies, multiple corporations, and other business arrangements; or
(C) A corporation or business entity, whether or not incorporated, that is identified on the office of foreign assets control of the U.S. department of the treasury’s sanctions programs and country information list;
(3) “Sanctioned foreign government” means a government other than the government of the United States, its states, its territories, or its possessions, that is identified by the office of foreign assets control of the U.S. department of the treasury’s sanctions programs and country information list; and
(4)

(A) “Sanctioned nonresident alien” means an individual who is either:

(i) A citizen of a sanctioned foreign government; or
(ii) A person identified on the office of foreign assets control of the U.S. department of the treasury’s sanctions programs and country information list; and
(B) “Sanctioned nonresident alien” does not include:

(i) A citizen of the United States; or
(ii) A person lawfully admitted into the United States for permanent residence by the United States immigration and naturalization service, even if such status is conditional.
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