As used in this chapter:

(1) “Affiliate” means:

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Terms Used In Tennessee Code 29-40-102

  • Companion: means :
    (A) The spouse of an individual. See Tennessee Code 29-40-102
  • Contract: A legal written agreement that becomes binding when signed.
  • 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 a chancery court in this state. See Tennessee Code 29-40-102
  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • 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.
  • Lien: means an interest in property that secures payment or performance of an obligation. See Tennessee Code 29-40-102
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage: means a record, however denominated, that creates or provides for a consensual lien on real property or rents, even if the mortgage also creates or provides for a lien on personal property. See Tennessee Code 29-40-102
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Mortgagor: means a person that grants a mortgage or a successor in ownership of the real property described in the mortgage. See Tennessee Code 29-40-102
  • 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.
  • Owner: means the person for whose property a receiver is appointed. See Tennessee Code 29-40-102
  • Person: means an individual. See Tennessee Code 29-40-102
  • 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
  • Proceeds: means the following property:
    (A) Whatever is acquired on the sale, lease, license, exchange, or other disposition of receivership property. See Tennessee Code 29-40-102
  • Property: includes proceeds, products, offspring, rents, or profits of or from the property. See Tennessee Code 29-40-102
  • 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
  • Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Tennessee Code 29-40-102
  • Receivership: means a proceeding in which a receiver is appointed. See Tennessee Code 29-40-102
  • Receivership property: includes any proceeds, products, offspring, rents, or profits of or from the property. See Tennessee Code 29-40-102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
  • Rents: means :
    (A) Sums payable for the right to possess or occupy, or for the actual possession or occupation of, real property of another person. See Tennessee Code 29-40-102
  • Security agreement: means an agreement that creates or provides for a lien. See Tennessee Code 29-40-102
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Tennessee Code 29-40-102
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(A) With respect to an individual:

(i) A companion of the individual;
(ii) A lineal ancestor or descendant, whether by blood or adoption, of:

(a) The individual; or
(b) A companion of the individual;
(iii) A companion of an ancestor or descendant described in subdivision (1)(A)(ii);
(iv) A sibling, aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew of the individual, whether related by the whole or the half blood or adoption, or a companion of any of them; or
(v) Any other individual occupying the residence of the individual; and
(B) With respect to a person other than an individual:

(i) Another person that directly or indirectly controls, is controlled by, or is under common control with the person;
(ii) An officer, director, manager, member, partner, employee, or trustee or other fiduciary of the person; or
(iii) A companion of, or an individual occupying the residence of, an individual described in subdivision (1)(B)(i) or (1)(B)(ii);
(2) “Companion” means:

(A) The spouse of an individual;
(B) The domestic partner of an individual; or
(C) Another individual in a civil union with an individual;
(3) “Court” means a chancery court in this state;
(4) “Executory contract” means a contract, including a lease, under which each party has an unperformed obligation and the failure of a party to complete performance would constitute a material breach;
(5) “Governmental unit” means an office, department, division, bureau, board, commission, or other agency of this state or a subdivision of this state;
(6) “Lien” means an interest in property that secures payment or performance of an obligation;
(7) “Mortgage” means a record, however denominated, that creates or provides for a consensual lien on real property or rents, even if the mortgage also creates or provides for a lien on personal property;
(8) “Mortgagee” means a person entitled to enforce an obligation secured by a mortgage;
(9) “Mortgagor” means a person that grants a mortgage or a successor in ownership of the real property described in the mortgage;
(10) “Owner” means the person for whose property a receiver is appointed;
(11) “Person” means an individual; estate; business or nonprofit entity; public corporation; government or governmental subdivision, agency, or instrumentality; or other legal entity;
(12) “Proceeds” means the following property:

(A) Whatever is acquired on the sale, lease, license, exchange, or other disposition of receivership property;
(B) Whatever is collected on, or distributed on account of, receivership property;
(C) Rights arising out of receivership property;
(D) To the extent of the value of receivership property, claims arising out of the loss, nonconformity, or interference with the use of, defects or infringement of rights in, or damage to the property; or
(E) To the extent of the value of receivership property and to the extent payable to the owner or mortgagee, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in, or damage to the property;
(13) “Property” means all of a person’s right, title, and interest, both legal and equitable, in real and personal property, tangible and intangible, wherever located and however acquired. “Property” includes proceeds, products, offspring, rents, or profits of or from the property;
(14) “Receiver” means a person appointed by the court as the court’s agent, and subject to the court’s direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property;
(15) “Receivership” means a proceeding in which a receiver is appointed;
(16) “Receivership property” means the property of an owner which is described in the order appointing a receiver or a subsequent order. “Receivership property” includes any proceeds, products, offspring, rents, or profits of or from the property;
(17) “Record”, used as a noun, means information that is inscribed on a tangible medium or that is stored on an electronic or other medium and is retrievable in perceivable form;
(18) “Rents” means:

(A) Sums payable for the right to possess or occupy, or for the actual possession or occupation of, real property of another person;
(B) Sums payable to a mortgagor under a policy of rental-interruption insurance covering real property;
(C) Claims arising out of a default in the payment of sums payable for the right to possess or occupy real property of another person;
(D) Sums payable to terminate an agreement to possess or occupy real property of another person;
(E) Sums payable to a mortgagor for payment or reimbursement of expenses incurred in owning, operating, and maintaining real property or constructing or installing improvements on real property; or
(F) Other sums payable under an agreement relating to the real property of another person that constitute rents under the law of this state, other than this chapter;
(19) “Secured obligation” means an obligation the payment or performance of which is secured by a security agreement;
(20) “Security agreement” means an agreement that creates or provides for a lien;
(21) “Sign” means, with present intent to authenticate or adopt a record:

(A) To execute or adopt a tangible symbol; or
(B) To attach to or logically associate with the record an electronic sound, symbol, or process; and
(22) “State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.
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