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

History of an individual's credit financial transactions including a detailed payment analysis. The creditor history is critical for performing a credit analysis to develop a credit rating. ...

The word ““doc”” is an abbreviation for a document. Typically, a doc defines any recorded materials, including letters, photographs, inscriptions, text, reproducible ...

Individual who has a legal obligation to pay money to another. ...

Considering future occurrences that may possibly arise. ...

(1) Occupancy rate at which rental income of a property pays for operating expenses and debt service, leaving no residual cash flow. (2) The level of sales of a real estate business where ...

Expected period of benefit used to depreciate business property, plant, and equipment. The guidelines may be developed by the industry or Internal Revenue Service (IRS). ...

Map showing the kinds of soil in a designated locality. ...

tenancy having no written lease or contract. A periodic tenancy can be on a month-to-month or week-t-week basis. ...

An amount of money provided for in a contract as compensation if the contract is not fulfilled. An example is an offer to buy real property that includes a provision that once the seller ...

Popular Real Estate Questions