Section 205. Conveyance of real property to members for dwelling houses

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A  not-for-profit corporation, if its by-laws so provide, and pursuant
  to the provisions thereof, and without leave of the court, may convey to
  a member of the corporation a portion  of  its  real  property  for  the
  erection  thereupon  of  a cottage or other dwelling-house with suitable
  outbuildings. When so conveyed the title to such portion, together  with
  the  buildings  thereon,  shall continue in such member and on his death
  pass to his heirs or devisees, but  the  land  shall  not  be  alienable
  except to the corporation or to a member thereof.

                    
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