Michigan Resolution by Board of Directors of Authorizing the Sale of Real Estate is a legal document commonly used in Michigan when a board of directors of a corporation or organization wishes to authorize the sale of real estate owned by the company. This resolution is crucial to ensure that the board has taken appropriate action and obtained the necessary approval before proceeding with the sale. The Michigan Resolution by Board of Directors of Authorizing the Sale of Real Estate typically includes several key elements. Firstly, it identifies the corporation or organization by its legal name and explicitly states that a meeting of the board of directors was held with the specific purpose of authorizing the sale of the real estate. The resolution then specifies the exact property or properties to be sold, including their legal descriptions and any relevant information about their location and condition. The resolution further describes the reasons behind the decision to sell the real estate, whether it is to generate funds for other corporate projects, to fulfill specific obligations, or any other valid business reason. It may mention any prior discussions or evaluations that led to this decision and highlight any potential risks or benefits associated with the sale. Another important aspect of the resolution is the authorization itself. It states that the board of directors, after due consideration of all relevant factors, has authorized the sale of the specified real estate. The resolution may also outline any specific terms and conditions related to the sale, such as the minimum acceptable price, acceptable payment methods, or any restrictions on potential buyers. Depending on the specific circumstances, there may be different types of Michigan Resolutions by Board of Directors of Authorizing the Sale of Real Estate. Some common variations include: 1. "Resolution by Board of Directors of Authorizing the Sale of Real Estate — Single Property": This type of resolution is used when the board of directors wishes to authorize the sale of a single parcel of real estate owned by the corporation or organization. 2. "Resolution by Board of Directors of Authorizing the Sale of Real Estate — Multiple Properties": This variation is applicable when the board of directors intends to authorize the sale of multiple properties at once. The resolution would specify each property separately, including their respective legal descriptions. 3. "Resolution by Board of Directors of Authorizing the Sale of Real Estate — Conditional Sale": In certain cases, the board of directors may wish to authorize the sale of real estate subject to certain conditions, such as obtaining a specific permit or approval. This type of resolution would outline these conditions and make the sale contingent upon their fulfillment. It is important to consult with legal professionals or experts in real estate law to ensure that the Michigan Resolution by Board of Directors of Authorizing the Sale of Real Estate is drafted accurately to meet the specific requirements of the corporation or organization involved.