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

(1) “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made;
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Terms Used In Tennessee Code 31-7-102

  • 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.
  • Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Tennessee Code 31-7-102
  • Disclaimed interest: means the interest that would have passed to the disclaimant had the disclaimer not been made. See Tennessee Code 31-7-102
  • Disclaimer: means the refusal to accept an interest in or power over property. See Tennessee Code 31-7-102
  • Fiduciary: A trustee, executor, or administrator.
  • Fiduciary: means a personal representative, trustee, agent acting under a power of attorney, or other person authorized to act as a fiduciary with respect to the property of another person. See Tennessee Code 31-7-102
  • 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.
  • 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. See Tennessee Code 31-7-102
  • Personal representative: includes executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status. See Tennessee Code 31-1-101
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Tennessee Code 31-1-101
  • State: includes an Indian tribe or band, or Alaskan native village, recognized by federal law or formally acknowledged by a state. See Tennessee Code 31-7-102
  • Statute: A law passed by a legislature.
  • Trust: means :
    (A) An express trust, charitable or noncharitable, with additions thereto, whenever and however created. See Tennessee Code 31-7-102
  • 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
(2) “Disclaimed interest” means the interest that would have passed to the disclaimant had the disclaimer not been made;
(3) “Disclaimer” means the refusal to accept an interest in or power over property;
(4) “Fiduciary” means a personal representative, trustee, agent acting under a power of attorney, or other person authorized to act as a fiduciary with respect to the property of another person;
(5) “Jointly held property” means property held in the name of two (2) or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property;
(6) “Person” means an individual; fiduciary; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government, governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity;
(7) “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. “State” includes an Indian tribe or band, or Alaskan native village, recognized by federal law or formally acknowledged by a state; and
(8) “Trust” means:

(A) An express trust, charitable or noncharitable, with additions thereto, whenever and however created; and
(B) A trust created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust.
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