Tennessee Code 30-4-102 – Chapter definitions
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As used in this chapter, unless the context clearly requires otherwise:
Terms Used In Tennessee Code 30-4-102
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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.
- Court: means the court then exercising probate jurisdiction in the county in which the decedent had legal residence on the date of death. See Tennessee Code 30-4-102
- Decedent: A deceased person.
- Decedent: means a person who is deceased. See Tennessee Code 30-4-102
- 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.
- Limited letters: means the limited letters of administration of a small estate and limited letters testamentary of a small estate, as appropriate. See Tennessee Code 30-4-102
- Limited letters of administration of a small estate: means limited letters of administration for the decedent's property that restrict the person to whom the limited letters of administration are issued to the property itemized and identified in the petition for the limited letters, which must be attached to and made a part of the limited letters. See Tennessee Code 30-4-102
- Limited letters testamentary of a small estate: means limited letters testamentary for the decedent's property that restrict the person to whom the limited letters testamentary are issued to the property itemized and identified in the petition for the limited letters which must be attached to and made a part of the limited letters. See Tennessee Code 30-4-102
- 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 an individual, partnership, firm, business trust, corporation, or other legal entity, and includes both the singular and plural, and the masculine and feminine, as appropriate. See Tennessee Code 30-4-102
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
- Probate: Proving a will
- Property: means only personal property, or any interest in personal property, owned by the decedent on the date of death that would be subject to probate, other than personal property held as tenants by the entirety or jointly with right of survivorship, or personal property payable to a beneficiary other than the decedent's estate. See Tennessee Code 30-4-102
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Small estate: means the probate estate of a decedent in which the value of the probate property does not exceed fifty thousand dollars ($50,000). See Tennessee Code 30-4-102