As used in this part, unless the context otherwise requires:

(1) “Department” means the department of revenue;
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Terms Used In Tennessee Code 67-8-702

  • Department: means the department of revenue. See Tennessee Code 67-8-702
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Interest in real property having state use value: means any interest in real property that is of unique value to the receiving entity to carry out its stated purposes. See Tennessee Code 67-8-702
  • Legatee: A beneficiary of a decedent
  • Object of significant artistic or historical value: means any object of art, collection, painting, portrait, mural, photograph, statue, tablet, carving, bas-relief, engraving, relic, coin, furniture, textile, basketry, artifact, natural specimen, rare book, author's papers, or other object of artistic, historical, or technical interest or of intrinsic cultural value. See Tennessee Code 67-8-702
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Qualified property: means an object of significant artistic or historical value, a site of significant historical interest, an interest in real property having recreational, conservational or wildlife value, or an interest in real property having state use value. See Tennessee Code 67-8-702
  • 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
  • Receiving entity: means the state of Tennessee, any department or agency thereof, any county, city, or other political subdivision of the state, or any state museum or state institution of health or education. See Tennessee Code 67-8-702
  • Site of significant historical interest: means any real property, building, or fixture, or any combination thereof, of unique and peculiar historical significance. See Tennessee Code 67-8-702
  • 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
  • Transfer taxes: means all the taxes imposed by this chapter, including the inheritance, estate, gift and generation-skipping transfer taxes, and interest and penalties thereon. See Tennessee Code 67-8-702
  • Trustee: A person or institution holding and administering property in trust.
(2) “Donor” means any person responsible for the payment of transfer taxes to the state, including, but not limited to, a personal representative, executor, administrator, individual taxpayer, joint tenant, heir, legatee, devisee, grantee, transferee, trustee, tenant in common, conservator, guardian, custodian, or person interested in an estate or trust;
(3) “In-kind payment” means a payment of transfer taxes or a portion thereof by the transfer to a receiving entity of qualified property;
(4) “Interest in real property having recreational, conservational, or wildlife value” means any interest in real property that is of unique value as a scenic, historic, archaeological, scientific, or recreational resource to the state and that will contribute to the cultural, recreational, or economic life of the people, or is a unique and critical habitat for wildlife in the state;
(5) “Interest in real property having state use value” means any interest in real property that is of unique value to the receiving entity to carry out its stated purposes;
(6) “Object of significant artistic or historical value” means any object of art, collection, painting, portrait, mural, photograph, statue, tablet, carving, bas-relief, engraving, relic, coin, furniture, textile, basketry, artifact, natural specimen, rare book, author’s papers, or other object of artistic, historical, or technical interest or of intrinsic cultural value;
(7) “Qualified property” means an object of significant artistic or historical value, a site of significant historical interest, an interest in real property having recreational, conservational or wildlife value, or an interest in real property having state use value;
(8) “Receiving entity” means the state of Tennessee, any department or agency thereof, any county, city, or other political subdivision of the state, or any state museum or state institution of health or education;
(9) “Site of significant historical interest” means any real property, building, or fixture, or any combination thereof, of unique and peculiar historical significance; and
(10) “Transfer taxes” means all the taxes imposed by this chapter, including the inheritance, estate, gift and generation-skipping transfer taxes, and interest and penalties thereon.
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