Document background
A Board Resolution For Sale of Property is an essential corporate governance document required when an Australian company intends to sell real estate assets. This document is necessary to comply with the Corporations Act 2001 and demonstrates that the decision to sell property has been properly considered and approved at the board level. The resolution typically follows a formal board meeting where the proposed sale is discussed and voted upon. It should include specific details about the property, the approved sale price range, and designate authorized persons to execute the sale documents. This type of resolution is particularly important for stakeholders such as purchasers' solicitors, banks, and land registry offices, who need evidence that the company has properly authorized the property sale. The document must be drafted in accordance with both federal corporate law requirements and relevant state-based property legislation.
