Stable Patrimony definition

Stable Patrimony means all property including the real or personal, movable or immovable, tangible or intangible property of the Corporation, that, either of its nature or by explicit designation is destined to remain in the possession of its owner for a long or indefinite period of time to afford financial security for the future.
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Stable Patrimony as used in Canon Law means “immovable property” or “fixed capital”. The term “immovable property” is straightforward and covers all land, buildings and fixtures. Furniture is movable and therefore does not constitute “stable patrimony”. The term “fixed capital” refers to money or its equivalent (i.e. deposits) which is “fixed” because it has been designated by its donor or by the Church as being set aside for a particular purpose. For
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Stable Patrimony means the specific real or personal property acquired by the Corporation following the Effective Date that is designated as stable patrimony under canon law by the appropriate representatives of the Holy See, provided, however, that such designation must be delivered in writing by CHCO to the Corporation prior to the date such real or personal property is acquired by the Corporation;
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Examples of Stable Patrimony in a sentence

  • We have also provided staff support for theD International Economic Council involving, for example, assisting with the administration of the Stable Patrimony Fund, the Sharing Fund, the Twinning Funds, the Development Fund, and Solidarity Contributions.E (C.


More Definitions of Stable Patrimony

Stable Patrimony as used in Canon Law means “immovable property” or “fixed capital”. The term “immovable property” is straightforward and covers all land, buildings and fixtures. Furniture is movable and therefore does not constitute “stable patrimony”. The term “fixed capital” refers to money or its equivalent (i.e. deposits) which is “fixed” because it has been designated by its donor or by the Church as being set aside for a particular purpose. For example, if a parish raises funds to construct a new church, those funds become fixed capital. Likewise, if the parish finance committee sets aside a CDF deposit amount to meet the cost of a specific (rather than general) capital project, the amount so set aside immediately becomes “stable patrimony”. A third example would be a bequest given for “religious education”. That amount becomes “fixed capital” (and therefore part of “stable patrimony”) because, in line with the wishes of the donor, it can be used only for religious education.
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Related to Stable Patrimony

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