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A Board Resolution For Sale Of Company Property is a crucial corporate document required under Philippine law when a company intends to dispose of its assets. This document is essential for demonstrating proper corporate authorization and compliance with the Revised Corporation Code of the Philippines. It is typically used when a company needs to sell real estate, equipment, vehicles, or other significant assets, and must be prepared in accordance with the company's by-laws and applicable regulations. The resolution includes specific details about the property being sold, the approved sale terms, designated signatories, and may require shareholder approval if the sale involves a substantial portion of corporate assets. This document is particularly important for maintaining corporate records, satisfying regulatory requirements, and protecting the interests of all stakeholders involved in the transaction.

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Attendance and Quorum: List of board members present and confirmation of quorum requirements being met

3. Preamble: Standard corporate details including company name, registration, and address

4. Recitals: Background information explaining the context and reason for the property sale

5. Property Description: Detailed identification and description of the property being sold

6. Sale Terms: Key terms of the sale including price, payment terms, and basic conditions

7. Board Determination: Statement of the board's determination that the sale is in the best interest of the corporation

8. Resolution Statement: Formal resolution language authorizing the sale and designating authorized representatives

9. Authority Grant: Specific powers granted to authorized representatives to execute documents and complete the sale

10. Certification: Secretary's certification of the resolution's authenticity and adoption