Posted by Farkel [Keflar] on November 10, 1999 at 13:27:35 {AAJB0ph6mYjc7.1TE24IvhKqcjatLo}:
I have a question regarding Kingdom Halls. Most of us know that the WTS provides financing, together with charging a modest (3%?) interest rate to offset inflation. Who holds the deed to the property? Does the congregation form some sort of legal association or corporation to hold the deed? If so, who are the officers in the association? I'm most interested in knowing who has the control over Kingdom Halls as real estate.
When the loan from the society is paid off, I've heard that the society "encourages" the congregation to let the society hold the property in "trust?" If true, what kind of "trust" is it? Who has the rights to sell Kingdom Halls, or to mortgage them?
What happens to a Kingdom Hall if a congregation dwindles down to only a few members, and the Kingdom Hall is owned free and clear, and the few members cannot pay for property taxes and upkeep?
Has the society ever "foreclosed" on a KH loan?
Any informed answers would be appreciated.
Farkel, who remembers "Deep Throat" saying, "follow the money."