New York Certificate of Authorization to Sell Real Property
Definition and meaning
The New York Certificate of Authorization to Sell Real Property is a legal document used by corporations in New York State to formally authorize the sale of specific real estate assets. This certificate typically confirms that the resolution to sell the property was adopted during a corporation's meeting and is crucial for ensuring that the sale complies with corporate governance standards.
How to complete a form
To complete the New York Certificate of Authorization to Sell Real Property, follow these steps:
- Gather necessary information: Collect details including the corporation's name, office address, and the property details.
- Draft the resolution: Prepare the resolution highlighting the authorization to sell the specified property.
- Fill the form: Insert all required information in the certificate, ensuring accuracy.
- Sign the document: The corporate officer should sign the certificate.
- Notarize the form: A notary public must verify the signatures.
Who should use this form
This certificate should be used by corporate officers of legal entities that own real property in New York and wish to sell said property. It is particularly relevant for company executives, board members, and legal representatives who are involved in the decision-making process related to property transactions.
State-specific requirements
In New York, there are specific requirements that must be met to validly execute the New York Certificate of Authorization to Sell Real Property. These include:
- The corporation must be in good standing and legally authorized to conduct business in New York.
- All corporate resolutions and procedures must align with the corporation's bylaws.
- The form should be notarized to affirm the authenticity of the signatures involved.
Common mistakes to avoid when using this form
When completing the Certificate of Authorization, be mindful of the following common errors:
- Inaccurate details: Ensure all information, especially corporate names and property descriptions, are correct.
- Missing signatures: All required signatories must sign the document.
- Notarization errors: The document must be correctly notarized to be legally binding.
Form popularity
FAQ
To apply for a Certificate of Authority use New York Business Express. Your application will be processed and, if approved, we'll mail your Certificate of Authority to you. You cannot legally make any taxable sales until you have received your Certificate of Authority.
If you go this route, your certificate will arrive within four to six weeks. Delays can occur if the office needs to request additional information. When you receive the certificate, it should be displayed prominently at your office or place of business.
Resale Certificate. Even though it's important for your taxes, your resale number isn't the same as a tax ID number. Your business's TIN goes on federal tax returns, and if you need to pay state taxes on your business income, you can apply for a state TIN. The resale number involves state sales tax.
A resale certificate indicates the item was in good faith that the purchaser would resell the item and report tax on the final sale. As a seller, you may also accept resale certificates from others who wish to purchase items for resale.A description of the property to be purchase.
Form ST-120, Resale Certificate, is a sales tax exemption certificate. This certificate is only for use by a purchaser who: A is registered as a New York State sales tax vendor and has a valid. Certificate of Authority issued by the Tax Department and is making.
To apply for a Certificate of Authority use New York Business Express. Your application will be processed and, if approved, we'll mail your Certificate of Authority to you. You cannot legally make any taxable sales until you have received your Certificate of Authority.
A resale certificate is also called a sales tax certificate, reseller permit, or sales tax exemption certificate.It does not exempt you from paying sales tax on items you use in your business (e.g., office supplies). Qualifying goods are either items you plan to resell or use as parts in products or services you sell.
You must have a General Vendor license if you sell, lease, or offer to sell or lease goods or services in a public place that is not a store. You do NOT need a General Vendor license to sell:Call 311 or visit nyc.gov/health for information about food cart vendor licenses and permits.