ABC Foundation is a non-stock corporation engaged in providing relief to disasters areas. One of its member donated a property in favor of the corporation for its principal office. However the corporation and the member failed to agree on the return of the property upon dissolution. When ABC Foundation decided to dissolve, how will the property be distributed?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
ABC Foundation is a non-stock corporation engaged in providing relief to disasters areas. One of its member donated a property in favor of the corporation for its principal office. However the corporation and the member failed to agree on the return of the property upon dissolution. When ABC Foundation decided to dissolve, how will the property be distributed?
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