Document background
A Corporate Resolution To Purchase (Real Estate) is a crucial document required when a company in South Africa intends to acquire real property. This document serves as official evidence of the company's decision-making process and authorization, in accordance with the Companies Act 71 of 2008 and relevant property legislation. It is typically required by transfer attorneys, financial institutions, and property registries as proof of corporate authority to proceed with the transaction. The resolution must specify the property details, authorized purchase amount, designated representatives, and any conditions attached to the purchase. It forms part of the essential documentation required for property transfer in South Africa and demonstrates compliance with corporate governance requirements.
