A Corporate Resolution To Sell (Real Estate) is a crucial governance document required when a company in South Africa intends to dispose of real property assets. This document is necessary to comply with both the Companies Act 71 of 2008 and property law requirements, demonstrating that the decision to sell has been properly made according to the company's governance procedures. It is typically used when significant property transactions are undertaken and serves as evidence of authority for external parties such as property registrars, banks, and purchasers. The resolution must include specific details about the property, authorized signatories, and sale parameters, and is often required by conveyancing attorneys to proceed with property transfers. This document type is particularly important in the South African context, where property transactions require strict compliance with both corporate and property law formalities.
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1. Title and Date: Formal title of the resolution and date of the meeting
2. Company Details: Full registered name, registration number, and registered address of the company
3. Meeting Details: Type of meeting (board/shareholders), location, quorum confirmation, and attendees
4. Recitals: Background information explaining the context and purpose of the resolution
5. Property Description: Detailed description of the real estate property being authorized for sale, including erf number, physical address, and title deed details
6. Resolution Statement: The formal resolution text authorizing the sale of the property
7. Sale Parameters: Approved price range, key terms and conditions of the authorized sale
8. Authorized Representatives: Names and details of persons authorized to execute documents and act on behalf of the company
9. Certification: Statement certifying that the resolution was properly passed and recorded
1. Special Conditions: Any specific conditions or restrictions on the sale authorization, used when there are particular requirements for the sale
2. Related Resolutions: Reference to other relevant corporate resolutions, used when the sale is part of a larger transaction or requires multiple corporate approvals
3. Financial Terms: Detailed financial arrangements, used when specific financial parameters need to be documented
4. Time Limitations: Specific timeframe for the authorization, used when the authority to sell is not indefinite
5. Regulatory Compliance: Specific mentions of regulatory requirements, used when the property sale requires specific regulatory approvals
1. Property Details Schedule: Detailed technical description of the property including boundaries, size, and improvements
2. Title Deed Extract: Copy or extract of the current title deed
3. Authority Matrix: Details of signing authorities and limitations
4. Company Registration Documents: Relevant company registration documents confirming authority to make the resolution
5. Meeting Minutes Extract: Extract of the minutes of the meeting where the resolution was passed
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Industrial Property
Retail Property
Corporate Services
Legal Services
Property Development
Construction
Manufacturing
Financial Services
Healthcare
Education
Hospitality
Mining
Agriculture
Relevant Teams
Legal
Corporate Secretariat
Property Management
Facilities Management
Board of Directors
Executive Management
Finance
Compliance
Risk Management
Operations
Asset Management
Relevant Roles
Chief Executive Officer
Managing Director
Company Secretary
Legal Counsel
Corporate Lawyer
Property Manager
Real Estate Manager
Facilities Manager
Chief Financial Officer
Financial Director
Board Director
Non-Executive Director
Property Officer
Compliance Officer
Risk Manager
Operations Director
Asset Manager
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