4690: Difference between revisions
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'''<span id="4690">4690.</span>''' All written instruments of conveyance by which property is held or hereafter acquired by any local church, whether incorporated or unincorporated, shall contain the trust clause in [[4610]], and release therefrom shall be as follows: | '''<span id="4690">4690.</span>''' All written instruments of conveyance by which property is held or hereafter acquired by any local church, whether incorporated or unincorporated, shall contain the trust clause in [[4610]], and release therefrom shall be as follows: | ||
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Latest revision as of 01:54, 16 November 2022
4690. All written instruments of conveyance by which property is held or hereafter acquired by any local church, whether incorporated or unincorporated, shall contain the trust clause in 4610, and release therefrom shall be as follows:
- (1) Whenever the real property of a local church acquired by a conveyance containing the trust clause as set forth in 4610 is sold in conformity with the provisions of The Discipline (4700–4728), the written approval of the district board of administration (4700:3) shall constitute a release and discharge of the real property so sold and conveyed from the trust clause (4620).
- (2) Whenever the real property of a local church acquired by a conveyance containing the trust clause in 4610 is mortgaged or encumbered, as provided for in The Discipline (4700–4728), the written approval of the district board of administration for such mortgage or encumbrance (4700:3) shall constitute a formal recognition of the priority of such mortgage lien and the subordination of the trust clause thereto (4630).