A Corporate Resolution (Real Estate) is a crucial legal document required when companies engage in property transactions in South Africa. It demonstrates proper corporate governance and compliance with the Companies Act 71 of 2008 and related property legislation. This document is essential when a company needs to purchase, sell, lease, or otherwise deal with real estate assets, as it provides evidence that the transaction has been properly authorized by the company's governing body. The resolution details the specific transaction, authorized representatives, and scope of their authority, while ensuring compliance with both corporate and property law requirements. It serves as a key document for the Deeds Office, transfer attorneys, and other stakeholders involved in the property transaction process within the South African legal framework.
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1. Company Details: Full legal name of the company, registration number, and registered address
2. Meeting Details: Date, time, location of the meeting, and confirmation of quorum
3. Directors Present: List of directors present at the meeting and those absent with or without apologies
4. Chairperson: Identification of the meeting's chairperson and confirmation of their authority
5. Property Transaction Details: Specific details of the real estate transaction being authorized, including property description and transaction type
6. Financial Considerations: Purchase/sale price or other financial terms related to the transaction
7. Authority Grant: Specific powers being granted and to whom regarding the transaction
8. Certification: Certification that the resolution was properly passed and is in accordance with the company's memorandum of incorporation
1. Prior Resolutions: Reference to any previous resolutions that are relevant to this transaction
2. Financing Details: Include when the transaction involves mortgage bonds or other financing arrangements
3. Environmental Considerations: Required when the property transaction involves environmental impact assessments or compliance requirements
4. Development Plans: Include when the resolution covers future development or modification of the property
5. Conditions Precedent: Any conditions that must be met before the transaction can proceed
1. Property Description Schedule: Detailed legal description of the property including erf number, title deed details, and physical address
2. Authority Matrix: Details of who is authorized to sign which documents and any limitations on their authority
3. Required Documentation: List of all documents required to execute the transaction
4. Board Meeting Attendance Register: Official record of attendance at the meeting where the resolution was passed
5. Company Constitutional Documents: Relevant extracts from the company's memorandum of incorporation regarding property transactions
Relevant legal definitions
Company
Board
Directors
Property
Transaction
Transfer Date
Effective Date
Purchase Price
Transfer Duty
Memorandum of Incorporation
Authorized Representatives
Signatories
Title Deed
Erf Number
Transfer Attorney
Conveyancer
Deeds Office
Meeting
Resolution
Quorum
Companies Act
Municipal Rates
Property Transfer Duty
VAT
Bond
Mortgage
Seller
Purchaser
Registered Office
Business Day
Board
Directors
Property
Transaction
Transfer Date
Effective Date
Purchase Price
Transfer Duty
Memorandum of Incorporation
Authorized Representatives
Signatories
Title Deed
Erf Number
Transfer Attorney
Conveyancer
Deeds Office
Meeting
Resolution
Quorum
Companies Act
Municipal Rates
Property Transfer Duty
VAT
Bond
Mortgage
Seller
Purchaser
Registered Office
Business Day
Clauses
Corporate Authority
Meeting Validity
Quorum Confirmation
Property Description
Transaction Authorization
Financial Terms
Signatory Powers
Document Execution
Compliance
Transfer Instructions
Bond Registration
Municipal Compliance
Environmental Compliance
Insurance Requirements
Real Estate Agent Appointment
Legal Representative Appointment
Due Diligence
Conditions Precedent
Property Transfer Process
Certificate of Compliance
Rates and Taxes
Registration of Transfer
Meeting Validity
Quorum Confirmation
Property Description
Transaction Authorization
Financial Terms
Signatory Powers
Document Execution
Compliance
Transfer Instructions
Bond Registration
Municipal Compliance
Environmental Compliance
Insurance Requirements
Real Estate Agent Appointment
Legal Representative Appointment
Due Diligence
Conditions Precedent
Property Transfer Process
Certificate of Compliance
Rates and Taxes
Registration of Transfer
Relevant Industries
Real Estate
Commercial Property
Retail
Industrial
Healthcare
Education
Hospitality
Financial Services
Manufacturing
Logistics
Agriculture
Mining
Technology
Professional Services
Relevant Teams
Legal
Corporate Secretariat
Real Estate
Facilities Management
Finance
Compliance
Risk Management
Operations
Corporate Governance
Property Development
Asset Management
Relevant Roles
Chief Executive Officer
Managing Director
Chief Financial Officer
Company Secretary
Legal Counsel
Property Manager
Facilities Manager
Real Estate Director
Board Member
Corporate Governance Officer
Risk Manager
Compliance Officer
Operations Director
Property Development Manager
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