Oklahoma Corporate Resolution for Sale of Real Estate

• Category: Corporations - Minutes and Resolutions - Actions
• State: Multi-State
• Control #: US-0031-CR-10
• Format: Word; Rich Text

Description

Generic form with which a corporation may record resolutions of the board of directors or shareholders. The Oklahoma Corporate Resolution for Sale of Real Estate is a legal document that outlines and authorizes the sale of a property owned by a corporation in the state of Oklahoma. This resolution is an important part of the process for selling real estate and must be adopted by the corporation's board of directors or the shareholders, depending on the company's governing structure. The resolution serves as a formal declaration to sell the property and establishes the necessary conditions and terms of the sale. It outlines the corporate consent required for the transaction to proceed, which includes the approval of a majority of the board of directors or the majority of shareholders, depending on the company's bylaws. The resolution may include various details specific to the sale, such as the property's legal description, its intended use, the listing price, and any conditions or contingencies that must be met before the sale can be finalized. Additionally, it may specify the authorized signatories who are empowered to execute the necessary legal documents relating to the sale. There are different types of Oklahoma Corporate Resolutions for the Sale of Real Estate, primarily differing based on the governing structure of the corporation. Some common types include: 1. Board of Directors' Resolution: This type of resolution is adopted when a corporation has a board of directors. It requires majority approval from the board members, typically through a formal meeting or written consent. 2. Shareholders' Resolution: If the corporation is structured as a closely-held corporation or has a few shareholders, a shareholders' resolution may be required. In this case, the resolution must be adopted by a majority of the shareholders, typically through a meeting or written consent. 3. Special Shareholders' Resolution: In certain situations where major decisions need to be made, such as the sale of a significant property, a special shareholders' resolution may be required. This type of resolution requires a higher majority vote or may even require a two-thirds or unanimous consent of the shareholders. It is crucial to consult with legal professionals experienced in Oklahoma real estate laws to ensure compliance and accuracy when drafting and executing the Corporate Resolution for Sale of Real Estate.

The Oklahoma Corporate Resolution for Sale of Real Estate is a legal document that outlines and authorizes the sale of a property owned by a corporation in the state of Oklahoma. This resolution is an important part of the process for selling real estate and must be adopted by the corporation's board of directors or the shareholders, depending on the company's governing structure. The resolution serves as a formal declaration to sell the property and establishes the necessary conditions and terms of the sale. It outlines the corporate consent required for the transaction to proceed, which includes the approval of a majority of the board of directors or the majority of shareholders, depending on the company's bylaws. The resolution may include various details specific to the sale, such as the property's legal description, its intended use, the listing price, and any conditions or contingencies that must be met before the sale can be finalized. Additionally, it may specify the authorized signatories who are empowered to execute the necessary legal documents relating to the sale. There are different types of Oklahoma Corporate Resolutions for the Sale of Real Estate, primarily differing based on the governing structure of the corporation. Some common types include: 1. Board of Directors' Resolution: This type of resolution is adopted when a corporation has a board of directors. It requires majority approval from the board members, typically through a formal meeting or written consent. 2. Shareholders' Resolution: If the corporation is structured as a closely-held corporation or has a few shareholders, a shareholders' resolution may be required. In this case, the resolution must be adopted by a majority of the shareholders, typically through a meeting or written consent. 3. Special Shareholders' Resolution: In certain situations where major decisions need to be made, such as the sale of a significant property, a special shareholders' resolution may be required. This type of resolution requires a higher majority vote or may even require a two-thirds or unanimous consent of the shareholders. It is crucial to consult with legal professionals experienced in Oklahoma real estate laws to ensure compliance and accuracy when drafting and executing the Corporate Resolution for Sale of Real Estate.