January 17, 2011

Alienation Limit for 2011

The amount which requires the approval of the Congregation for Institutes of Consecrated life and Societies of Apostolic Life in cases of alienation of stable patrimony or business transactions which could have an adverse effect on the patrimonial condition of an institute/society remains at $5,705,000.
This amount applies only to an alienation or a business transaction within the United States. Alienation and business transactions in other countries must follow the amount set for institutes and societies in each particular country or region. [See canon 638.3].
Informational Note:
Alienation: the present tax usually charged for approval of an alienation is .1% of the actual selling price. Payment must be made in euros and presented to the Congregation prior to receiving the document of approval. Up to now, wire transfers have not been acceptable.
Adverse Business Transaction: the tax now charged seems to be 50 euro.