Massachusetts General Laws ch. 165 sec. 23 – Interest of shareholders in real property after dissolution
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Section 23. If the corporation at its dissolution is seized of real estate, the proprietors shall become tenants in common thereof in proportion to their respective shares or interests in the stock of the corporation.
Terms Used In Massachusetts General Laws ch. 165 sec. 23
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01