The club have a 50-year leaseback, paying an annual rent of £200,000.
67.9 per cent of shareholders voted in favour of the move at an EGM held on Monday.
There is an option to buyback their main stand within 30 months for £1.35m, with the annual rent halfed.
Contracts were exchanged on November 30, meaning the club can pay of debts of more than £1m - an overdraft of £200,000, mortage of £420,000 and third party loan of £660,000 - before Christmas.
The club will restructure their business plan dramatically in the New Year, and must find an annual saving of £350,000 - this includes a £150,000 reduction of the budget for players.
Chairman Gary Harwood said: "Before Monday I felt that there wasn't really much future for the club.
"Had the resolution not been passed we would have had to appoint administrators, I and the board believe that would have been the first step on a very quick journey to oblivion of the football club.
"This ought to be the start of a new beginning rather than the end of a turbulent few months."