LandInvestors.com Forums **Ask A Question** seller is a corp entity?

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  • #29612
    Bryan Glass
    Participant
    Post count: 5

    Hi – if the seller is a corp entity and I’m doing a self closing do I need any additional paperwork? Thanks!

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  • Kevin Farrell
    Moderator
    Post count: 2176

    Bryan – you should verify that you are dealing with 1. A valid business entity whose current status is “Active”. You should be able to look them up at the state of incorporation web site. 2. A person who is authorized to buy/sell property owned by the Corporation.

    Edit the signature line like this:

    Seller: ______________________________
    John Doe Manager, XYZ Corp

    I did not always do this and one time when I sold the property through a title company the deal came to a screeching halt when the title company found out that the company I purchased from was defunct (inactive) for years. Learn from my mistakes . . . .

    Kevin Farrell - Moderator
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    Schedule a 60 minute call - https://calendly.com/kevin-629

    Bryan Glass
    Participant
    Post count: 5

    Is there a document I need to get from them that needs to be filed with the deed? Like a corp. resolution etc.?

    Kevin Farrell
    Moderator
    Post count: 2176

    Bryan – you should be able to look them up in the state where the corporation was formed. See if the status is active. See who the officer(s) are and make sure you are dealing with the right person. If you don’t know what state they are incorporated in – ask the seller.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 60 minute call - https://calendly.com/kevin-629

    Bryan Glass
    Participant
    Post count: 5

    Thanks Kevin!

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