Rental Property Investor · Perry Hall, MD · Member since 2016 · 587 posts · 598 votes
It's not a deal yet but we're talking. I'm looking at a potential SFH flip currently owned by a church. Their business entity is not currently in good standing with the state (Maryland), but I'm not sure why and I'm also not sure if that would/could have any effect the sale. Anyone have experience with dealing with this type of entity and anything I should watch out for? I'm assuming it's the same as buying from any other business entity in that you have authorized signers who are able to enter into legal agreements on the entity's behalf. The state of maryland has the legal description of the property as "chrch exe" but it was owned by individuals prior to the church so I don't believe there are any zoning issues (but I will look into that before making a final deal).
The entity would either need to reinstate with SDAT or, depending upon how much time has passed and the type of entity, they may be able to convey out as part of the "winding up" process. The title company will dictate how that needs to happen.
As far as buying from a church, as you suspected there is nothing unique to consider. Good luck.
