Complex sentence: The Highlander Folk School was chartered in the State of Tennessee as a non-profit corporation without stockholders or owners, so once it lost its charter no one could make a claim on any of the property.
Split into simpler sentences: The Highlander Folk School was chartered by the State of Tennessee as a non-profit corporation without stockholders or owners. Once the State revoked its charter, no one could make a legal claim on any of the property.