Fiduciary Considerations Involving Charitable Property 2010 National Charity Law Symposium

Good Government Bill – Cont’d

Those who hold an interest in real or personal property will have to ensure their investments comply with the prudent investor standards set out in the Trustee Act. It is now allowed, under the Charities Accounting Act, to hold real estate for any length of time as long as holding that real estate meets the prudent investor rules and benefits the charity.

There were also amendments to Religious Organizations Land Act which allows unincorporated Religious organizations to lease their land without any time limit restrictions.