The Guidelines for Selling or Mortgaging Parish Property in the Episcopal Diocese of Chicago were updated and revised June 2024 by the Standing Committee.
The sale or encumbrance of church property is governed by Canons 24 and 22 (sec 3) and Canon 20, section 3 of the Episcopal Diocese of Chicago.
Parish property is owned and held by the Diocese and there are specific steps and mile-stones that govern the transaction process. This is a step-by-step guide to what you need to do to follow the canons if your congregation is considering the sale of property or using the property as collateral for a loan.