Corporate Resolution to Sell property
How to sell a corporate owned property?
As a company gets bigger taking decisions becomes more complex. In a small scale firm there are generally only one or two owners. It is very easy for them to agree on something while taking any decision. But in a big company there a lot of members in the board. Until all or most of them agree upon a decision nothing can be done. In such cases it is really important to have the proper paperwork.
Often the big companies buy real estate for use or for the purpose of investment. Now such a property has to be sold at some point of time for any number of reasons. It could be because the land is not useful anymore or because money is needed to settle some debts. Whatever the reason may be, the board members need to agree that the property should be sold. For that the member who thinks it is the right step should bring forward a resolution for this effect. If a majority of the members support this, the resolution will be passed and the property can be sold. However in some companies the decisions related to real estate have to be unanimous. In such cases the property cannot be sold until all the members agree to the decision.
Once the corporate resolution to sell property has passed, you will have to prepare the right paperwork to execute the decision. Do this with great care and make no mistakes. Even the slightest error can cause huge problems later.
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