Retired real estate accountant here. (commercial and apartment buildings). That isn't actually legalize, to me that document reads like what I'd expect a bright high school student to say in an essay entitled "How to buy a house," its a cut and paste job by a non professional .
What most interesting about it is what they don't say about ownership. They mention two ways of owning the property: a trust, managed by the elders; and a coporation (probably an LLC in most of the US). What they don't say is that it doesn't make any difference, the WTBS ends up in control of the property, because they can change the elders anytime they want.
This happened in California a few years ago. The WTBS wanted to sell a property. When the local elders refused the WTBS brought in new elders that would do as they were told. The original elders filed suit and lost, because the court ruled that it could not settle a religious dispute under the 1st amendment.
So even though all the paperwork may have the name of the local congregation on it, the real owner is the Watchtower Bible and Tract Society.