Board Resolution Format for Car Sale

BOARD RESOLUTION: AUTHORIZATION FOR DISPOSITION OF CORPORATE ASSET

Document ID: BR-ASSET-DISP-[YEAR]-[SEQ] Effective Date: [Date of Resolution] Version: 1.0 Governing Jurisdiction: [State/Province], [Country]

STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a template for the formal authorization of a motor vehicle sale by a corporate entity. While drafted to meet standard corporate governance requirements, it does not constitute specific legal or tax advice. Users are cautioned to verify the company’s Bylaws, Articles of Incorporation, and local motor vehicle department (DMV/equivalent) requirements regarding transfer of title and registration. Compliance with internal signatory authority levels and local statutory requirements remains the sole responsibility of the entity.

I. RECITALS

WHEREAS, [Company Full Legal Name] (the "Company") is the registered owner of the motor vehicle described herein (the "Asset"); and

WHEREAS, the Board of Directors (the "Board") has determined that it is in the best interest of the Company to dispose of the Asset; and

WHEREAS, the Board has reviewed the proposed terms of sale and desires to authorize the execution of all necessary documentation to effectuate the transfer of title.

II. RESOLUTIONS

NOW, THEREFORE, BE IT RESOLVED, that the Company is authorized to sell, transfer, and convey all right, title, and interest in the Asset described as:

• Make/Model: [Vehicle Make and Model]
• Year: [Year]
• VIN: [Vehicle Identification Number]
• Mileage: [Odometer Reading]

BE IT FURTHER RESOLVED, that the sale of the Asset shall be conducted for a total consideration of [Amount in USD] (the "Purchase Price"), payable by the Buyer, [Buyer Full Legal Name], to the Company via [Payment Method: Wire Transfer/Cashier's Check].

BE IT FURTHER RESOLVED, that [Authorized Signatory Name], holding the title of [Title/Role], is hereby authorized, empowered, and directed, for and on behalf of the Company, to execute the Bill of Sale, Title Transfer documentation, and any other instruments, certificates, or notices as may be necessary or appropriate to finalize the transaction.

BE IT FURTHER RESOLVED, that the Secretary of the Company is authorized to certify this resolution and provide a copy to any party requiring evidence of the authority granted herein.

III. MISCELLANEOUS PROVISIONS

1. Entire Agreement: This resolution constitutes the entire agreement of the Board regarding the specific disposition of the Asset and supersedes all prior discussions or written representations.
2. Severability: If any provision of this resolution is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.
3. Governing Law: This resolution and the authority granted herein shall be governed by and construed in accordance with the laws of the jurisdiction of [State/Province], without regard to conflict of law principles.

IV. EXECUTION & SIGNATURE BLOCKS

CERTIFICATION OF SECRETARY: I, the undersigned, Secretary of [Company Full Legal Name], do hereby certify that the foregoing is a true and correct copy of the resolution adopted by the Board of Directors on the date first written above, and that said resolution has not been amended or rescinded.

FOR [COMPANY FULL LEGAL NAME]: Signature: _____________________________________ Printed Name: [Secretary Name] Title: Secretary Date: [Date]

FOR [BUYER FULL LEGAL NAME] (Acknowledgment of Terms): Signature: _____________________________________ Printed Name: [Authorized Signatory Name] Title: [Title / Role] Date: [Date]

V. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Drafting: Replace all bracketed text [ ] with the specific details of the transaction. Use "N/A" for fields that are not applicable.
2. Verification of Authority: Before execution, verify that the individual signing has the actual or apparent authority under the Company's Bylaws to execute asset transfers.
3. Corporate Seal: If the Company utilizes a corporate seal, ensure it is embossed or affixed adjacent to the Secretary’s signature to satisfy strict jurisdictional requirements for transfer of title.
4. Digital Execution: When using DocuSign or Adobe Sign, ensure you utilize "Qualified Electronic Signatures" (QES) or the equivalent level of identity verification required by your local transport/DMV office.
5. Record Retention:
   • Maintain the signed original in the Corporate Minute Book.
   • Provide a certified copy to the Buyer for their records.
   • Retain a secondary copy with the accounting department for tax/depreciation reconciliation.
   • File a copy with the relevant Motor Vehicle Department as required by state law upon title transfer.