A valuable piece of land and assets were donated to a nonprofit, now the nonprofit may go under

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A valuable piece of land and assets were donated to a nonprofit, now the nonprofit may go under

A valuable piece of land and assets in SD were donated to a nonprofit, now the
nonprofit may go under. Is the donation lost or can the original owner get it
back? Or will it all be sold to pay for debts first? What is the standing of the
donor to get this back or participate in this?

Asked on April 4, 2018 under Real Estate Law, South Dakota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

A donotation, like a gift, is permanent; it may not be undone, and it does not come back to the giver or donor if the recipient goes under, files for bankruptcy, ceases to exist, etc. Whatever was given to the non-profit is now part of its assets and will presumbably be sold to pay for the non-profits debts and obligations.


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