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Board Resolution to Sell Real Estate

Corporate Resolution Sample

In the event that a company decides to sell its property, it will require a corporate resolution to sell real estate.

This is a straightforward document that cites the name of the buyer and the location of the company's property. The location of the real estate sold may be at a street address, section, block, or lot. Wrapping up, a board resolution for sale of real estate property will agree to the terms of the sale contract and include any closing documents, ensuring all formalities are properly documented.

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Choose the document you need from our list of over 60 free corporate resolution samples.

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Replace the highlighted sections of the document with the details relevant to your business.

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Once completed, you can download your resolution as a word document or print directly from the browser.

Board Resolution Sample to Sell Real Estate | MyCorporation

(Text Only Version)

COMPANY NAME

Board Resolution to Sell Real Estate

WHEREAS, the Corporation owns certain real estate that is no longer needed for the operation of the business and that it would further be desirous to sell some; be it:

RESOLVED, that the Corporation sell real estate known or described as ADDRESS 1, CITY, STATE, AND ZIP to BUYER for the purchase price of PRICE ($PRICE NUMERICAL) as set forth in a certain purchase and sales agreement as annexed hereto.

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of COMPANY NAME,a corporation duly formed pursuant to the laws of the state of YOUR STATE and that the foregoing is a true record of a resolution duly adopted at a meeting of the DIRECTORS/MEMBERS and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on MEETING DATE,and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this DAY OF THE WEEK, CURRENT MONTH of CURRENT YEAR.

SECRETARY NAME, Secretary


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What kind of information do I need to create a resolution to sell a property?

The purpose of any corporate resolution is to document the actions the board of directors will take on behalf of a corporation. When you create a resolution to sell real estate property, you need to include the following information:

  1. The legal name of the corporation
  2. The address, city, state, and zip code of the real estate that is to be sold by the corporation
  3. Name of the buyer
  4. Purchase price (numerical)
  5. Statement of purchase and sales agreement
  6. The state where the business is formed
  7. Information about the directors/members
  8. The date on which the agreement to sell real estate is made
  9. The current day, month, and year when the agreement is signed
  10. Signature and date signed

This resolution must document the actions that are authorized to be taken by the business and should be stored along with your corporate records.

Frequently Asked Questions

Yes, property and other real estate assets may be sold directly to your LLC. However, forming an LLC means that your property, including real estate, is kept separate from the business due to limited liability protection. Selling your property to your LLC means the property, or real estate, is no longer considered a separate asset. Should you have additional questions, it is wise to consult a legal professional or individual state laws for more information.

An LLC is legally capable of selling property. The LLC will transfer ownership to new owners through property deeds. The deed must be signed by an individual with legal authority. Otherwise, the deed is invalid, and the sale is unauthorized.

Authorization to sell real estate is a legal permission granted to an individual or entity, allowing them to sell a specific property. It's often needed when the property owner can't sell it themselves.

For example, in the case of a deceased owner, the estate executor would need authorization to sell the property. Also, an authorized representative would need permission to conduct the sale if a corporation owns a property. It's crucial to ensure proper authorization before any sale to avoid legal complications. As with any real estate transaction, it's best to seek advice from a professional like MyCorporation.

While it's not always required to consult a lawyer before using a real estate resolution, it's generally a good idea. Real estate resolutions can be complex and involve legal language that's tricky to navigate without professional help.

A lawyer can guide you through the document, ensuring you understand the terms and implications. They can also identify potential issues and suggest revisions to protect your interests. This way, you can make informed decisions and reduce the risk of future legal complications. Remember, it's always better to be safe than sorry when it comes to legal matters.

Using a real estate resolution requires legal compliance. Typically, approval must be obtained from the board of directors for a corporation or the members or managers of an LLC. It is essential to document the resolution in the minutes of the meeting where it was approved.

Additionally, it must follow any guidelines set out in the organization's bylaws or operating agreement. The resolution must clearly state the authorized action and who is authorized to carry it out. Lastly, it should be kept with the organization's official records. Contact MyCorporation for advice on using a real estate resolution.

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