The Soapbox and Toolbox for New York State's Nonprofits

January 4, 2016

New Options for Religious Orgs Buying or Leasing Property

Below is an announcement sent from the Attorney Generals Office Charities Bureau, of a recent amendment to the Religious Corporations Law that affects the procedures, set forth in Article 5 of the Not-for-Profit Corporations Law, to be followed by religious corporations when they sell, mortgage or lease for a term exceeding five years any of their real property. 

Religious corporations may now petition either the Court or the Attorney General for approval of such transactions.  Also below is a checklist of the documents and information to be included in a petition seeking such approval.



New Optional Procedures for Sales, Mortgages or Leases of Property by Religious Corps


   Checklist for Property Transactions by Religious Corporations







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