Tennessee Code 67-5-1804 – Discount for early payment
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Terms Used In Tennessee Code 67-5-1804
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- 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
- Taxpayer: means any owner of property subject to taxation or any party liable for property taxes. See Tennessee Code 67-5-105
- Trustee: A person or institution holding and administering property in trust.
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105