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What happens to bequest when church closes?—II

What happens to bequest when church closes?—II

What happens to bequest when church closes?—II

The answer to this question depends on whom you ask. At least it seems to be that way in Arkansas. After about five years of litigation, a divided Supreme Court in Arkansas has held that a bequest of 237 acres of farmland vested in the church upon the death of the donor, despite life interests in the farm income to four relatives of the donor and a transfer of the church’s interest upon its closing to a successor entity. Stanley Carpenter died in 1967 owning the farmland in Mississippi County. His will provided for the appointment of a bank trustee whose job would be to provide income from the farm to four relatives for their lives, then sell the real estate and distribute the proceeds “in...

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