Definition of "Corporation sole"

Antoinetta Pinckney real estate agent

Written by

Antoinetta Pinckneyelite badge icon

Southern Lifestyle Properties

Corporation having only one person, A corporation sole is primarily used for the purposes of a nonprofit ecclesiastic church related organization. Ina church, the corporation sole is headed by a priest, minister or bishop who holds title to all church-related property. The corporation sole allows the title to pass to the successors in office rather than to the heirs of the priest, minister, or bishop.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The real estate market uses the absorption rate to assess at which rate are available homes sold. This evaluation method is used for specific markets for specific periods of time. To ...

A floor where the binding joists support the common joists above and the ceiling below. ...

Interest rate on an adjustable rate mortgage based on the total of the current value of an index and margin applicable to the mortgage. The rate is the basis for the computation of monthly ...

In real estate, Attractive Nuisance is how insurance companies classify something that is inherently dangerous and particularly enticing to children. A hazard located within a property that ...

Span of time a rental agreement is free to the occupant. A landlord may offer this as an incentive to stimulate rentals. For example, an owner of an office building may provide a free ...

The definition of a homeowner’s fee is a fee that is charged to homeowners that belong to a homeowner's association. The homeowner’s fee usually includes the cost of ...

An early term used to describe all types of real estate property, improvements to the land, and all rights accruing to the land. ...

(1) Flooring in a structure. (2) Open structure with flooring erected outside a main building. A deck can have different levels with direct access to the main structure. It is usually ...

Space that is available to all tenants or owners, such as a courtyard, main entrance, elevator, and pool. ...

Popular Real Estate Questions