Corporate Resolution To Purchase (Real Estate) for the United States

Corporate Resolution To Purchase (Real Estate) Template for United States

A Corporate Resolution To Purchase Real Estate is a formal document that records a U.S. corporation's decision to acquire real property. This document, governed by state corporate and property laws, serves as official evidence of the board of directors' approval for the purchase and designates authorized representatives to execute the transaction. It includes specific details about the property, purchase terms, and corporate authorization requirements.

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Corporate Resolution To Purchase (Real Estate)

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What is a Corporate Resolution To Purchase (Real Estate)?

A Corporate Resolution To Purchase (Real Estate) is essential when a corporation plans to acquire real property in the United States. This document demonstrates proper corporate governance and authorization, typically required by title companies, lenders, and sellers. It outlines the board's approval of the purchase, specifies authorized signatories, and includes property details, purchase terms, and any special conditions. The resolution must comply with both state corporate laws and local real estate regulations, serving as proof that the transaction is properly authorized under corporate bylaws.

What sections should be included in a Corporate Resolution To Purchase (Real Estate)?

1. Title and Date: Identifies the document as a corporate resolution and date of adoption

2. Corporate Information: Company name, state of incorporation, and principal place of business

3. Recitals: Background information explaining the purpose and context of the resolution

4. Resolution Statement: Formal declaration of the board's decision to purchase the property

5. Property Description: Detailed legal description of the property to be purchased

6. Authorization: Names and titles of persons authorized to execute documents

7. Certification: Secretary's certification of the resolution's adoption

What sections are optional to include in a Corporate Resolution To Purchase (Real Estate)?

1. Purchase Price: Details of purchase amount and payment terms - used when price needs to be specifically documented in resolution

2. Financing Terms: Details of any loans or financing arrangements - used when purchase involves external financing

3. Special Conditions: Any specific conditions or contingencies that apply to the purchase

What schedules should be included in a Corporate Resolution To Purchase (Real Estate)?

1. Property Details Schedule: Detailed property information including surveys, title reports, and property specifications

2. Board Meeting Minutes: Minutes of the meeting where resolution was adopted, showing proper corporate approval

3. Corporate Documents Schedule: Relevant corporate formation documents and authorizations proving authority to purchase

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Document Type

Board Resolution

Cost

Free to use
Industries

State Corporation Laws: Primary state-specific laws governing corporate formation, operation, and authority. Varies by state and provides framework for corporate actions including real estate transactions.

State Property Laws: Laws governing real estate transactions, property rights, and transfer of real property within the specific state where the property is located.

Corporate Authority Requirements: Requirements from Articles of Incorporation, Corporate Bylaws, and state regulations regarding corporate authority to purchase real estate.

Internal Revenue Code: Federal tax laws affecting corporate real estate transactions, including tax implications of property acquisition and transfer.

FIRPTA: Foreign Investment in Real Property Tax Act - Federal law requiring foreign persons to pay US tax on dispositions of US real property interests.

Environmental Regulations: EPA regulations, state environmental laws, Clean Air Act, and Clean Water Act affecting real estate transactions and property use.

Securities Laws: Federal Securities Exchange Act and state Blue Sky Laws that may apply if the real estate transaction involves securities aspects.

Banking Regulations: Truth in Lending Act and Real Estate Settlement Procedures Act (RESPA) requirements for financed real estate transactions.

Americans with Disabilities Act: Federal law requiring accessibility standards for commercial properties and public accommodations.

Documentation Requirements: State-specific requirements for corporate resolutions, real estate recording, and document notarization.

Zoning Laws: Local and state regulations governing property use, development, and restrictions in specific zones or areas.

Recording Requirements: State and local requirements for properly recording real estate transactions and maintaining public records.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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