When you are listing a home or selling a home where the other party is not an individual, but an entity, it is critical to get the settlement company invovled as early as possible in making sure the "entity" has the correct documents and that the individual signing for the entity has the proper authority.
When you are reprenting the entity:
- Ask them for all the copies of the documents or copy of a trust
- Beware, often people think it says one thing, but is may say another
In general, the settlement companies will require for an LLC/Partnership:
- Articles of Incorporatation or Partnership Agreement
- Certificate of Good Standing or Proof of Filing
- Operating Agreement of the LLC or Partnership Agreement
- Resolution or Waiver
Another tip: make sure the signers are signing as indicated by power authorizing them in the documents: Trustee, Partner, President, etc.
This advice is for general informational purposes only and is not intended as legal advice. This information may not apply to your situtation. You should consult an attorney if you are seeking legal advice.
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