Board Resolution Format for Property Sale

BOARD RESOLUTION FOR THE SALE OF CORPORATE REAL PROPERTY

Document ID: CORP-RES-PROP-202X-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [State/Province], [Country]

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STATUTORY & LEGAL COMPLIANCE NOTICE

This document constitutes a formal template for a Board Resolution regarding the divestiture of real property. This instrument is drafted for general legal standards. Corporate bylaws, articles of incorporation, and local real estate statutes may impose additional requirements (e.g., shareholder approval thresholds, specific quorum mandates). Counsel should verify internal governance documents and applicable local property laws before execution. This document does not constitute personalized legal advice.

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RESOLUTION OF THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME]

WHEREAS, the Board of Directors (the "Board") of [Company Full Legal Name] (the "Company"), a corporation organized and existing under the laws of [Governing Jurisdiction], has determined that it is in the best interest of the Company to sell, convey, and dispose of the real property situated at [Property Full Legal Address] (the "Property"), legally described as [Legal Description or Parcel ID Number];

WHEREAS, the Board has reviewed the terms of the Purchase and Sale Agreement (the "Agreement") dated [Effective Date] by and between the Company (as "Seller") and [Client/Buyer Full Legal Name] (as "Buyer");

NOW, THEREFORE, BE IT RESOLVED:

1. APPROVAL OF TRANSACTION

The Board hereby approves the sale of the Property to the Buyer for the total purchase price of [Amount in USD] (the "Purchase Price"), under the terms and conditions set forth in the Agreement, a copy of which has been presented to the Board.

2. AUTHORIZATION OF OFFICERS

The Board hereby authorizes and empowers [Name of Authorized Officer], in their capacity as [Title/Role], to execute, acknowledge, and deliver the Agreement and any and all such other instruments, deeds, bills of sale, transfer documents, affidavits, and certificates as may be required, necessary, or convenient to carry out the transactions contemplated by the Agreement.

3. LIMITATION OF LIABILITY & INDEMNIFICATION

The Company shall indemnify and hold harmless the Authorized Officer(s) from and against any and all claims, damages, liabilities, and expenses arising out of, or in connection with, the execution of the Agreement and the sale of the Property, provided that such actions were taken in good faith and in the best interest of the Company.

4. RATIFICATION

Any and all acts taken by any officer or director of the Company in connection with the matters contemplated by these resolutions, whether performed before or after the adoption of these resolutions, are hereby ratified, approved, and confirmed in all respects.

5. SEVERABILITY

If any provision of this Resolution is held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of the remaining provisions, which shall remain in full force and effect.

6. GOVERNING LAW

This Resolution shall be governed by and construed in accordance with the laws of [Governing Jurisdiction], without regard to its conflict of laws principles.

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EXECUTION & SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

The undersigned, being the Secretary of the Company, hereby certifies that the above resolution was duly adopted by the Board of Directors of the Company on the date first written above.

Signature: _____________________________________
Printed Name: [Secretary Name]
Title: Secretary
Company: [Company Legal Name]
Date: [Date]

FOR [BOARD CHAIRPERSON/AUTHORIZED DIRECTOR]:

Signature: _____________________________________
Printed Name: [Name of Chairperson/Director]
Title: [Title]
Date: [Date]

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STEP-BY-STEP EXECUTION & FILING GUIDE

1. Drafting: Replace all bracketed text [ ] with the actual factual information. Ensure the "Legal Description" is copied verbatim from the current property deed to avoid title defects.
2. Verification of Authority: Before execution, verify that the Authorized Officer(s) listed in Section 2 are granted "Signatory Authority" via the Company’s Corporate Bylaws or a prior General Power of Attorney.
3. Digital Execution: Utilize a Tier-1 eSignature platform (DocuSign, Adobe Sign, or HelloSign). Ensure the "Audit Trail" or "Certificate of Completion" is downloaded and attached to this document as an exhibit.
4. Minute Book Inclusion: This document must be physically or digitally filed in the Company’s "Corporate Minute Book." Failure to maintain a robust record of board-approved real estate transactions can lead to piercing of the corporate veil in litigation.
5. Record Retention: Retain the executed resolution, the signed Purchase and Sale Agreement, and the final recorded Deed for a minimum of seven (7) years following the fiscal year of the sale, or as otherwise required by local tax authorities.