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

By the Board of Directors, this Resolution is adopted this

Chairman, Board of Directors


The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.

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