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Except as limited by the terms of the trust: All powers over the trust property which an unmarried competent owner has over individually owned property; Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and.
Code § 35-15-114. Section 35-15-114 - Real property in trust (a) An estate in real property may be acquired in the name of the trust or in the name of the trustee on behalf of the named trust, and title to real property conveyed by the trust must be conveyed by the trustee, as trustee of the trust.
(a) The settlor, a cotrustee, or a qualified beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.
(b) Registration is accomplished by filing a statement with the secretary of state that includes the following: (1) The name, address, and phone number of the trustee with its principal place of business in this state or that is a resident of this state, in which the trustee acknowledges the trusteeship; (2) Dates and ...
The Tennessee version of Article 9 is found in Chapter 9 of Title 47, Tennessee Code Annotated. Basically, the Chapter (Article) 9 framework involves the filing of documents to provide notice of liens on personal property and fixtures. Not all UCC Article 9 records are filed with the Register.
TENNESSEE CODE ANNOTATED (TCA)
To overly simplify the basic commercial transaction, the three documents necessary to create a secured transaction are: (1) the promissory note; (2) the security agreement and (3) the financing statement. The promissory note is the document that creates the obligation.