Property specialists support Almshouse charity on CIO conversion

When a long-established Almshouse charity was looking to convert from a charity to a charitable incorporated organisation (CIO), they approached HCR Law to support them throughout the process.

With a wealth of experience in this area, the team provided a range of advice including drafting the new governing document for the organisation and submitting the Charity Commission application.

Due to the nature of the charity, there were significant assets and liabilities which needed to be transferred from the charity to the CIO. The assets included permanent endowment property, and we have worked with our property colleagues to deal with the transfer of property including the need to draft appropriate vesting declarations. Their support also included advice on an option agreement that the charity has in place with a third party developer, reviewing the title, advising on the terms of the agreement and preparing Land Registry and Companies House applications to remove the charge registered against the land in favour of the charity.