, that the Company is hereby authorized to purchase the Property for a total purchase price not to exceed $[Amount];
: It proves to lenders, title companies, and sellers that the individual signing the closing documents has the legal authority to bind the company to the purchase. corporate resolution to buy property
A corporate resolution is a formal document that records a major decision made by a company’s Board of Directors or shareholders. When a business wants to purchase real estate, the resolution serves as the official "story" of how and why that decision was made. The Purpose of the Resolution , that the Company is hereby authorized to
: The core of the story where the board formally votes to authorize the purchase. The Purpose of the Resolution : The core
: The document begins by stating when and where the meeting took place.
, the Board of Directors has determined that it is in the best interest of the Company to acquire certain real property located at [Address/Legal Description] for the purpose of [Business Purpose, e.g., expanding operations];