Terms Used In Tennessee Code > Title 66 > Chapter 3 - Fraudulent Conveyances and Devises

• Affiliate: means :
  (A) A person who directly or indirectly owns, controls, or holds with power to vote, twenty percent (20%) or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

  (i) As a fiduciary or agent without sole discretionary power to vote the securities. See Tennessee Code 66-3-302
• Animal: means a domesticated living creature or a wild creature previously captured. See Tennessee Code 39-14-201
• Asset: means property of a debtor, but the term does not include:
  (A) Property to the extent it is encumbered by a valid lien. See Tennessee Code 66-3-302
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bodily injury: includes a cut, abrasion, bruise, burn or disfigurement, and physical pain or temporary illness or impairment of the function of a bodily member, organ, or mental faculty. See Tennessee Code 39-11-106
• Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Tennessee Code 66-3-302
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Conviction: A judgement of guilt against a criminal defendant.
• Creditor: means a person who has a claim. See Tennessee Code 66-3-302
• Debt: means liability on a claim. See Tennessee Code 66-3-302
• Debtor: means a person who is liable on a claim. See Tennessee Code 66-3-302
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Donee: The recipient of a gift.
• Effective consent: means assent in fact, whether express or apparent, including assent by one legally authorized to act for another. See Tennessee Code 39-11-106
• 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}
• 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}
• Fraud: Intentional deception resulting in injury to another.
• Grantor: The person who establishes a trust and places property into it.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insider: includes :
  (A) If the debtor is an individual:

  (i) A relative of the debtor or of a general partner of the debtor. See Tennessee Code 66-3-302
• Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See Tennessee Code 66-3-302
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Owner: means a person, other than the defendant, who has possession of or any interest other than a mortgage, deed of trust or security interest in property, even though that possession or interest is unlawful and without whose consent the defendant has no authority to exert control over the property. See Tennessee Code 39-11-106
• Person: includes the singular and the plural and means and includes any individual, firm, partnership, copartnership, association, corporation, governmental subdivision or agency, or other organization or other legal entity, or any agent or servant thereof. See Tennessee Code 39-11-106
• Person: means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity. See Tennessee Code 66-3-302
• Property: means anything of value, including, but not limited to, money, real estate, tangible or intangible personal property, including anything severed from land, library material, contract rights, choses-in-action, interests in or claims to wealth, credit, admission or transportation tickets, captured or domestic animals, food and drink, electric or other power. See Tennessee Code 39-11-106
• Property: means anything that may be the subject of ownership. See Tennessee Code 66-3-302
• Relative: means an individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree. See Tennessee Code 66-3-302
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Tennessee Code 66-3-302