Document background
A Board Resolution For Sale of Property is a crucial corporate governance document required under South African law when a company intends to dispose of property assets. This document is necessary to demonstrate proper corporate authorization and compliance with the Companies Act 71 of 2008. It is typically used when a company needs to sell real estate assets and requires formal board approval for the transaction. The resolution must contain specific details about the property, the approved sale price, and designated signatories authorized to execute the sale documents. It forms part of the required documentation for property transfers in South Africa and is essential for the conveyancing process. The document serves as evidence of proper corporate decision-making and is often required by transfer attorneys, banks, and the Deeds Registry Office.
