Legal Letters Library – Issuance Of Shares In Exchange For Realty Resolution - Authorization

 

Corporation Forms

70. Stock Purchase Agreement

71. Stock Redemption Agreement

72. The First Meeting Of Shareholders Ratification Of Minutes

73. Transfer Of Reserved Name Notice

74. Waiver Of Notice Of The Annual Meeting Of The Shareholders

Property Forms

75. Agreement of Property Management

76. Assignment of Contract for Purchase Of Real Estate

77. Assignment Of Lease By Lessee With Consent Of Lessor

78. Assignment Of Real Estate Purchase And Sale Agreement

79. Assignments Of Rents By Lessor With Repurchase Agreement

80. Balloon Mortgage Note

81. Construction Contract

82. Contract Employing Real Estate Broker For Lease Of Property

83. Contract Employing Real Estate Broker For Sale Of Property

84. Contract For Sale And Purchase Of Property Memorandum

85. Issuance Of Shares In Exchange For Realty Resolution - Authorization

86. Lease

87. Management of Single Family House

88. Mortgage

89. Mortgage Assignment

90. Mortgage II

91. Non-refundable Deposit Receipt

92. Offer To Exchange Realty For Shares Resolution - Acceptance

93. Option Agreement For Purchase Of Real Property

94. Option To Purchase Real Estate Assignment

95. Quit-claim Deed

96. Real Estate Salesman Independent Contractor Agreement

97. Rent Receipt

Previous Page

First Set

RESOLUTION - AUTHORIZATION FOR
ISSUANCE OF SHARES OF CORPORATION
IN EXCHANGE FOR REALTY

Whereas, at a meeting of the board of directors of the ______(1)_____ Corporation (hereinafter sometimes referred to as the "Corporation"), it was resolved that the Corporation accept the offer of _____(2)_____ attached hereto, and issue __(3)__ percent of the authorized capital stock of the Corporation, fully paid and nonassessable; and

Whereas, _________(4)___________, as the sole owner of the real estate situated in the City of ________(5)__________, County of ___________(6)____________, State of ______(7)________, has offered to sell to the Corporation the real estate, as more fully described in the offer attached hereto, in return for __(8)___ percent of the authorized stock of this corporation; and

Whereas, the real estate is valuable for the use and lawful purposes of the Corporation;

Now, therefore, be it resolved that the offer made by _______(9)_______ to the Corporation is accepted. Resolved further that the secretary of the Corporation shall promptly deliver to the offeror, a certified copy of the minutes of this meeting.

Resolved further that the president of the Corporation execute and deliver to the offeror, _(10)_ certificates of stock for _(11)_ shares of the Corporation, which shares shall constitute __(12)__ percent of the authorized capital stock of the Corporation fully paid and nonassessable, on receipt from the offeror, of a warranty deed transferring the real estate to the Corporation.

Resolved further, that all prorations and adjustments for items including, but not limited to, taxes, interest, insurance and rents, shall be made as of the date of the transfer according to the local custom in the real estate industry.

By the Board of Directors, this Resolution is adopted this ______(13)______.

____________(14)______________

Chairman, Board of Directors

 

 


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