Happy new year and welcome to our E-Newsletter:
Prestige Title eNews is a quarterly e-newsletter that brings you reports of legal developments and other information of interest to real estate practitioners and professionals. I invite you to contact us with any questions or subject matter you would like us to discuss in future newsletters.
In this issue we visit religious corporations and the process for disposing of real estate assets. You may want save this issue since the subject does not come up that often and the procedures are not widely understood.
- Anthony Chiellino, President
Religious Corporations and Real Property
In this issue of the Newsletter, we will take a look at Religious Corporations and Real Property. In the Fall 2009 Newsletter, we addressed New York State and New York City Real Property Transfer Tax Exemptions for Religious Organizations. At one time or another, you will be faced with a transaction involving a Religious Corporation selling, leasing, buying and/or mortgaging real property.
A Religious Corporation is a corporation created for religious purposes. Religious Corporations are governed by both the Religious Corporations Law and Non-For-Profit Corporation Law- in cases of conflict between Religious Corporations Law and Non-For-Profit Corporation Law, Religious Corporations Law will prevail.
If you have any questions or would like further information regarding any of the articles in this newsletter, please contact Michael Alfieri, Esq. at (212) 651-1200 or [email protected].
Also, if there are any topics that you would like us to include in future newsletters, please feel free to e-mail us with suggestions at [email protected].