What to do if a valuable piece of land and assets were donated to a non-profit and now the non-profit may go under?
Question Details: A valuable piece of land and assets in SD were donated to a nonprofit, now the non-profit 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?
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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