Terms Used In Tennessee Code > Title 68 > Environmental Protection > Chapter 215 > Part 2 - Indicia of Ownership

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the department of environment and conservation. See Tennessee Code 68-215-103
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Holder: includes the initial holder or purchaser (such as a loan originator), any subsequent holder (such as a successor-in-interest or subsequent purchaser of the security interest on the secondary market), any subsequent assignee, transferee or purchaser from a holder, guarantor of an obligation, surety or any other person who holds ownership who acts on behalf of or for the benefit of a holder. See Tennessee Code 68-215-201
• Indicia of ownership: means evidence of a security interest, evidence of an interest in a security interest, or evidence of an interest in real or personal property securing a loan or other obligations, including any legal or equitable title to real or personal property acquired incident to foreclosure and its equivalents. See Tennessee Code 68-215-201
• 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}
• 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.
• obligor: means a person whose petroleum underground storage tank or UST system is encumbered by a security interest. See Tennessee Code 68-215-201
• Operation: means the use, storage, filling or dispensing of petroleum contained in a petroleum underground storage tank or a UST system. See Tennessee Code 68-215-201
• Operator: means any person in control of, or having responsibility for, the daily operation of the petroleum underground storage tank. See Tennessee Code 68-215-103
• Person: means any and all persons, including individuals, firms, partnerships, associations, public or private institutions, state and federal agencies, municipalities or political subdivisions, or officers thereof, departments, agencies or instrumentalities, or public or private corporations or officers thereof, organized or existing under the laws of this or any other state or country. See Tennessee Code 68-215-103
• Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
• Personal property: All property that is not real property.
• Petroleum: means crude oil or any fraction of crude oil which is a liquid at standard temperature and pressure (sixty degrees Fahrenheit (60°. See Tennessee Code 68-215-103
• Petroleum site: means any site or area where a petroleum underground storage tank is located. See Tennessee Code 68-215-103
• Petroleum underground storage tank: means any one (1) or combination of tanks (including the underground lines connected thereto) which are used or have been used to contain an accumulation of petroleum substances, and the volume of which (including the volume of the underground pipes connected thereto) is ten percent (10%) or more beneath the surface of the ground. See Tennessee Code 68-215-103
• Petroleum underground storage tank fund: means the fund established by this chapter to provide for the cleanup of releases from petroleum underground storage tanks and assist with the financial responsibilities of owners/operators of petroleum underground storage tanks. See Tennessee Code 68-215-103
• Primarily to protect a security interest: means that the holder's indicia of ownership are held primarily for the purpose of securing payment or performance of an obligation, but does not include indicia of ownership held primarily for investment purposes, nor ownership indicia held primarily for purposes other than as a protection of a security interest. See Tennessee Code 68-215-201
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Release: means any spilling, overfilling, leaking, emitting, discharging, escaping, leaching or disposing of a petroleum substance from a petroleum underground storage tank or its associated piping into groundwater, surface water, or subsurface soils. See Tennessee Code 68-215-103
• Security interest: includes , but is not limited to, mortgages, deeds of trust, liens and title pursuant to lease financing transaction. See Tennessee Code 68-215-201
• State: means the state of Tennessee. See Tennessee Code 68-215-103
• 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
• Tank: means a stationary device, designed to contain an accumulation of petroleum substances which is constructed primarily of non-earthen materials (e. See Tennessee Code 68-215-103
• Trustee: A person or institution holding and administering property in trust.
• UST system: means an underground storage tank, connected underground piping, underground ancillary equipment and containment system, if any. See Tennessee Code 68-215-201
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105