FAQs - Property
Answers to commonly asked questions about property in the LCAQD
The overwhelming number of congregations in the LCAQD are unincorporated associations.  You might think of it as being like a body corporate for a block of flats where you have a Chairperson, Secretary and Treasurer governed by a constitution and by-laws and personally legally liable for their conduct.  This means that the congregation cannot buy or sell property itself but the LCAQD Inc (District Office) will do this on your behalf.    In essence the LCAQD Inc provides you with access to the LLL for low cost loans guaranteed by the District, tax benefits through Land tax exemptions, ability to gain exemption on stamp duties, access to low cost insurance through LCA Insurance, maintenance of titles and access to legal counsel who know our business as required.
If your congregation is an unincorporated congregation, the land will be held in the name of the LCAQD Inc.  Your congregation will need to show on the balance sheet the buildings and improvements made to the land, but not the land value itself.   If you are a separately incorporated congregation you will show the land value on your balance sheet.
In the Governance section, under submissions to DCC you will find advice, templates and forms that, when completed make their way to DCC for approval of property transactions.