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Can We Classify Church Buildings As Part Of Real Estate?
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[QUOTE="Holicent, post: 241092, member: 76163"] [FONT=Verdana]Church buildings are typically thought of as religious structures, and therefore not part of the commercial real estate category. However, there is an argument to be made that since these buildings are treated like real estate in many ways, they should be classified similarly. A primary example is the ownership of church buildings. In most cases, a church's building is owned by either the church itself or a separate legal entity created for the purposes of owning and managing the property. This is similar to how other types of commercial real estate are treated by their owners: investors and companies will often create separate entities to manage different properties, including shopping malls and office buildings. Another example is that church buildings often have much more in common with other forms of commercial real estate than they do with private homes. Many churches have highly complex designs that incorporate multiple levels, large gathering spaces, and even attached shops or offices. They can also be highly expensive to build, requiring specialized materials and equipment that are more commonly found on construction sites than on residential ones. Given the similarities between church buildings and other of commercial real estate, it seems likely that many churches would benefit from being classified in the same way.[/FONT] [/QUOTE]
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