A Corporate Resolution To Purchase (Real Estate) is a crucial document required when a company in South Africa intends to acquire real property. This document serves as official evidence of the company's decision-making process and authorization, in accordance with the Companies Act 71 of 2008 and relevant property legislation. It is typically required by transfer attorneys, financial institutions, and property registries as proof of corporate authority to proceed with the transaction. The resolution must specify the property details, authorized purchase amount, designated representatives, and any conditions attached to the purchase. It forms part of the essential documentation required for property transfer in South Africa and demonstrates compliance with corporate governance requirements.
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1. Title and Date: Formal title of the resolution and date of the meeting
2. Company Details: Full legal name of the company, registration number, and registered address
3. Meeting Details: Type of meeting (board/shareholders), location, quorum confirmation, and attendees
4. Recitals: Background information explaining the purpose of the resolution and confirming compliance with company constitution/MOI
5. Property Details: Complete description of the property including erf number, physical address, size, and registration details
6. Purchase Terms: Approved purchase price, payment terms, and key conditions of the purchase
7. Authority Grant: Specific powers granted to designated representatives to execute the purchase
8. Execution Requirements: Details of who is authorized to sign documents and execute the transaction
9. Certification: Statement certifying that the resolution was properly passed and recorded
1. Financing Arrangements: Include when the purchase requires mortgage bond or other financing approval
2. Due Diligence: Include when specific due diligence requirements need to be authorized
3. Conditions Precedent: Include when the purchase approval is subject to specific conditions being met
4. Related Party Declarations: Include when the transaction involves related parties requiring special declarations
5. Transfer Instructions: Include when specific instructions for transfer attorneys need to be authorized
1. Property Description Schedule: Detailed technical description of the property including diagrams and title deed information
2. Financial Terms Schedule: Detailed breakdown of purchase price, payment terms, and financial conditions
3. Authorized Signatories List: List of persons authorized to sign various documents with specimen signatures
4. Required Documentation List: List of all documents required for the transfer process
5. Meeting Attendance Register: Record of all attendees at the meeting where resolution was passed
Relevant legal definitions
Company
Property
Transfer Date
Purchase Price
Board of Directors
Resolution
Authorized Representatives
Transfer Attorney
Conveyancer
Effective Date
MOI
Companies Act
Deed of Transfer
Transfer Duty
Erf Number
Title Deed
Purchase Agreement
Settlement Date
Designated Signatories
Meeting
Quorum
Registration
Bond
Conditions Precedent
Due Diligence
Business Day
Shareholders
Closing Date
Property Register
Material Terms
Property
Transfer Date
Purchase Price
Board of Directors
Resolution
Authorized Representatives
Transfer Attorney
Conveyancer
Effective Date
MOI
Companies Act
Deed of Transfer
Transfer Duty
Erf Number
Title Deed
Purchase Agreement
Settlement Date
Designated Signatories
Meeting
Quorum
Registration
Bond
Conditions Precedent
Due Diligence
Business Day
Shareholders
Closing Date
Property Register
Material Terms
Clauses
Resolutions Adopted
Property Identification
Purchase Authorization
Financial Terms
Delegated Authority
Execution Powers
Signatory Authorization
Due Diligence
Financing Arrangements
Conditions Precedent
Property Transfer
Corporate Authority
Compliance Confirmation
Document Execution
Legal Requirements
Transfer Instructions
Banking Authority
Certification
Related Party Disclosure
Registration Authority
Property Identification
Purchase Authorization
Financial Terms
Delegated Authority
Execution Powers
Signatory Authorization
Due Diligence
Financing Arrangements
Conditions Precedent
Property Transfer
Corporate Authority
Compliance Confirmation
Document Execution
Legal Requirements
Transfer Instructions
Banking Authority
Certification
Related Party Disclosure
Registration Authority
Relevant Industries
Real Estate
Commercial Property
Retail
Manufacturing
Industrial
Hospitality
Healthcare
Education
Financial Services
Professional Services
Logistics and Warehousing
Agriculture
Mining
Technology
Relevant Teams
Legal
Finance
Property Management
Corporate Secretariat
Compliance
Risk Management
Operations
Corporate Governance
Facilities Management
Investment
Board of Directors
Executive Management
Relevant Roles
CEO
Managing Director
Company Secretary
Legal Counsel
Chief Financial Officer
Property Manager
Real Estate Director
Facilities Manager
Corporate Governance Officer
Risk Manager
Board Director
Commercial Director
Operations Director
Investment Manager
Compliance Officer
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