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Transferring Property Into Non-profit Church

Discuss anything to do with property law - buying, selling property

Transferring Property Into Non-profit Church

Postby muireach » Mon Dec 05, 2016 10:37 am

Thank you, Our church has incorporated as a Non-Profit Corporation(we have not endeavored into requesting 501c3 status) and we are looking to transfer the property from the church into the Non-Profit Corporation.  Can you tell me generally, are there any tax implications for this?  Please tell me where to look for this info.

Thank you!

ANSWER: I would like to know whether by "property", you are including real property. In any case, there is no federal tax filing due or federal tax filings required as you are evidently transferring from an unincorporated church association to an incorporated church. If their is debt involved, that may bring in other issues, especially if the unincorporated assocation is controlled by a family or small group of related persons. I have in my profile that this free forum is only for relevant federal exempt issues of 501(c)(3) organizations. However, beyond the tax issues, the procedure for the transfer may be controlled by a particular state law and states may differ somewhat with how they would treat such issues. Even though this forum is not for such state law issues, if you give me your state I may be able to direct you. Harvey Mechanic

Attorney at Law

[email protected]

---------- FOLLOW-UP ----------

Thank you for the response!  The church will be transferring land, church building, money, etc.  We are in Alabama.

Thank you again, please forgive if there are any questions outside the scope of your free forum.

Thanks!
muireach
 
Posts: 44
Joined: Thu Mar 31, 2011 2:43 pm

Transferring Property Into Non-profit Church

Postby Iddig » Thu Dec 08, 2016 9:13 pm

Thank you, Our church has incorporated as a Non-Profit Corporation(we have not endeavored into requesting 501c3 status) and we are looking to transfer the property from the church into the Non-Profit Corporation.  Can you tell me generally, are there any tax implications for this?  Please tell me where to look for this info.

Thank you!

ANSWER: I would like to know whether by "property", you are including real property. In any case, there is no federal tax filing due or federal tax filings required as you are evidently transferring from an unincorporated church association to an incorporated church. If their is debt involved, that may bring in other issues, especially if the unincorporated assocation is controlled by a family or small group of related persons. I have in my profile that this free forum is only for relevant federal exempt issues of 501(c)(3) organizations. However, beyond the tax issues, the procedure for the transfer may be controlled by a particular state law and states may differ somewhat with how they would treat such issues. Even though this forum is not for such state law issues, if you give me your state I may be able to direct you. Harvey Mechanic

Attorney at Law

[email protected]

---------- FOLLOW-UP ----------

Thank you for the response!  The church will be transferring land, church building, money, etc.  We are in Alabama.

Thank you again, please forgive if there are any questions outside the scope of your free forum.

Thanks!
Iddig
 
Posts: 43
Joined: Fri Feb 14, 2014 10:00 am

Transferring Property Into Non-profit Church

Postby Dougall » Sat Dec 10, 2016 2:31 am

Seehttp://bit.ly/V51de

which is the Alabama Unincorporated Nonprofit Associations code

and specifically

---Start of Excerpt--

(a) Unless prohibited or otherwise limited by its written rules or governing documents, a nonprofit association in its name may acquire, hold, encumber, or transfer an estate or interest in real or personal property.

(b) Unless prohibited or otherwise limited by its written rules or governing documents, a nonprofit association may be a legatee, devisee, or beneficiary of a trust or contract.

(c) Real and personal property in Alabama may be acquired, held, encumbered, and transferred by a nonprofit association, whether the nonprofit association or a member has any other relationship to Alabama.

---End of Excerpt--http://bit.ly/VudrY Harvey Mechanic

Attorney at Law

[email protected]
Dougall
 
Posts: 37
Joined: Sun Mar 16, 2014 1:36 am


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