Massachusetts Resolution by Board of Directors of Authorizing the Sale of Real Estate
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How to fill out Resolution By Board Of Directors Of Authorizing The Sale Of Real Estate?
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FAQ
All eligible directors must either sign copies of the written resolution, or otherwise agree to it in writing. A sole director will usually make decisions by written resolution.
A board resolution is sometimes also called a corporate resolution. It's a formal document that solidifies in writing important decisions that boards of directors make. Boards usually write up board resolutions when they appoint new directors to the board.
Companies may file a print of the resolution rather than the resolution itself, but the print must be signed by a director or the company secretary.
A corporate resolution is a legal document written by a board of directors that describes and declares major corporate decisions. This document may explain who is legally allowed to sign contracts, make assignments, sell real estate or determine other decisions related to business transactions.
The resolution is often used to express the body's approval or disapproval of something which they cannot otherwise vote on, due to the matter being handled by another jurisdiction, or being protected by a constitution.
The Board Resolution is duly signed by the directors present in the meeting. There is no requirement that a Board Resolution be notarized. However, when Board Resolutions are used as evidence in court trials, notarization gives more credence to the document.
Directors and Board Meetings Generally, the board authorises the actions of the company through board resolutions passed at board meetings or, if authorised by the articles, by written resolution signed by all the directors or a stated proportion of them.
The board members need to sign the board resolution. The President and Secretary only need to sign when the resolution is certified. But they can sign an uncertified board resolution as well, but it is not required.
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.
Who should sign the board resolution? It must be signed by two directors with the rubber seal/stamp of the company with a quorum at a Board Meeting. In the case of a one person company, the board resolution for the opening of a bank account can be signed by the sole director and shareholders.
