Truro City have been given until 16 January to pay off money they owe in unpaid taxes.
The Blue Square Bet South club faced a winding-up petition in the High Court on Monday from HM Revenue and Customs.
Mr Registrar Baister granted the club an adjournment to settle its debt in a hearing lasting less than two minutes.
The company's barrister, Stephen Schaw Miller, told the court there was the potential for cash to be raised by a separate company selling a property.
"There is also a possibility of outside investors investing in the club which will enable the debt to be paid," he added.
Although Truro City Football Club Ltd does not own its Treyew Road ground, Miller said there was also a possibility that a separate company may grant an 'option' to a third party to purchase it.
Prior to Monday's hearing, the club's lawyers had described HMRC's petition to wind up the company as 'unduly aggressive'.