The Great Northern War emptied the royal treasury, and then in 1723, King Frederick IV, held the Norwegian church sale and many churches to raise money to pay off his debts.

The church was purchased by the Borse and Løvenskiold families, who also owned the local ironworks factory.

[5][7] In 1833, the current church owner, Eggert Løvenskiold, sold the church to the State, which in turn let it pass into private hands to factory owner Diderik von Cappelen.

The municipality refused the offer which led to a dispute between the local government and the church owner.

After this, the factory owner Cappelen agreed to finance the construction of a new Holla Church building.

[3][4] Peter Høier Holtermann was hired to design the new church, and the parish decided to build the new church about 1.2 kilometres (0.75 mi) to the northwest, in a location in the centre of the village of Ulefoss which would be more accessible to the growing village.

The old building was partially torn down in 1878 and afterwards, the rest fell into disrepair and is now a ruin.

The church has a tower at the entrance in the west and the choir has a half-octagon-shaped apse on the east end surrounded by vestries.