Tennessee § 35-17-102 - Chapter definitions.

§ 35-17-102. Chapter definitions.

As used in this chapter: “Community property” means property owned by a community property trust during the marriage of the settlor spouses; “Community property trust” means an express trust that complies with § 35-17-103; “Decree” means a judgment or other order of a court; “Dissolution” means either: Termination of a marriage by a decree of dissolution, divorce, annulment or declaration of invalidity; or Entry of a decree of legal separation maintenance; “During marriage” means a period that begins at marriage and ends at dissolution or the death of a spouse; “Qualified trustee” means either: A natural person who is a resident of this state; or A company authorized to act as a fiduciary in this state pursuant to § 45-2-1001; and “Settlor spouses” means a married couple that establishes a community property trust. Acts 2010, ch. 658, § 1. Code Commission Notes. Acts 2010, ch. 725, § 21 purported to enact §§ 35-17-101 and 35-17-102 . In comments jointly proposed by the Estate and Probate Section of the Tennessee Bar Association, the Probate Study Committee of the Tennessee Bar Association, and the Trust Committee of the Tennessee Bankers Association, as authorized by 725, Acts of 2010, ch. 725, § 24, it was recommended that the enactments by Acts 2010, ch. 725, § 21 be enacted as §§ 35-6-108 and 35-6-109 , respectively. Effective Dates. Acts 2010, ch. 658, § 2. July 1, 2010. Law Reviews. Yes, Virginia, Tax Loopholes Still Exist: An Examination of the Tennessee Community Property Trust Act of 2010 (J. Paul Singleton), 42 U. Mem. L. Rev. 369 (2011).