What is the name of your state? Texas
My church has three acres of land and buildings on a 20 year mortgage. Our new pastor wants to lease with the option to buy one acre of land on the back part of the property. Can the church legally sub-divide its mortgaged property and lease this land with the option to buy to a tenant/buyer?
My church has three acres of land and buildings on a 20 year mortgage. Our new pastor wants to lease with the option to buy one acre of land on the back part of the property. Can the church legally sub-divide its mortgaged property and lease this land with the option to buy to a tenant/buyer?