Tennessee Code > Title 66 > Chapter 27 > Part 1 – Horizontal Property
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Terms Used In Tennessee Code > Title 66 > Chapter 27 > Part 1 - Horizontal Property
- apartment: includes the private element. See Tennessee Code 66-27-102
- Co-owner: means a person, firm, corporation, partnership, association, trust or other legal entity, or any combination thereof, which owns an apartment or apartments within the building. See Tennessee Code 66-27-102
- Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
- Condominium: means the ownership of single units in a multiple unit structure or structures with common elements. See Tennessee Code 66-27-102
- Condominium project: means a real estate condominium project. See Tennessee Code 66-27-102
- 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.
- Council of co-owners: means all the co-owners as defined in subdivision (a)(4). See Tennessee Code 66-27-102
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Developer: means a person who undertakes to develop a real estate condominium project. See Tennessee Code 66-27-102
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- General common elements: means and includes:
(A) The land, whether leased or in fee simple, on which the building stands. See Tennessee Code 66-27-102 - Highway: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Limited common elements: means and includes those common elements which are agreed upon by all of the co-owners to be reserved for the use of a certain number of apartments to the exclusion of the other apartments, such as special corridors, stairways and elevators, sanitary services common to the apartments of a particular floor, and the like. See Tennessee Code 66-27-102
- Majority of co-owners: means more than fifty percent (50%) of the co-owners. See Tennessee Code 66-27-102
- master lease: means the deed or lease recording the property of the horizontal property regime. See Tennessee Code 66-27-102
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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, firm, corporation, partnership, association, trust or other legal entity, or any combination of these. See Tennessee Code 66-27-102
- Private elements: means and includes the lot area upon which an apartment is located and the improvements located thereon, as described in the declaration, and for which fee simple ownership and exclusive use is reserved to that apartment only. See Tennessee Code 66-27-102
- Property: means and includes the land whether leasehold or in fee simple and the building, all improvements and structures thereon and all easements, rights and appurtenances belonging to such land. See Tennessee Code 66-27-102
- 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
- To record: means to record pursuant to the laws of the state of Tennessee relating to the recordation of deeds and other instruments conveying or affecting title to property. See Tennessee Code 66-27-102
- Townhouse corporation: means a not-for-profit corporation to be organized under the Tennessee Nonprofit Corporation Act, compiled in title 48, chapters 51-68, of which all co-owners shall be members where private elements are involved. See Tennessee Code 66-27-102