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

Structure built into the water from the land providing a facility for boats to tie up. A dock will often provide utility access ...

Amount still unpaid at a particular date on a loan or other financing agreement. ...

A will where the decedent's nomination of an executor/executrix is flawed, requiring an administrator to be appointed by the court and annexed to the will. ...

Financing technique aimed at those people who only plan to live in a house for a short time. Under this mortgage, a lower interest rate and, thus, a lower monthly mortgage payment are ...

Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...

Items of real and personal property that usually have a long life, such as housing and other real estate. ...

Partner in a real estate business who remains anonymous but has legal rights and obligations. ...

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

Law of the state establishing guidelines and requirements for constructing buildings. The standard may differ between the states. ...

Popular Real Estate Questions