resolution of acceptance of offer to exchange realty for shares of corporation



resolution of acceptance of offer to exchange realty for shares of corporation :

Whereas, ______________________ the owner of certain real estate situated at _____________________ in the City of ______________ County of ___________________, State of ___________________, has offered to sell to the ___________ Corporation (hereinafter sometimes referred to as the Corporation), the real estate, as more particularly described in the offer attached hereto, for the issuance to him of ____ percent of the authorized stock of the Corporation, fully paid and nonassessable; and


Whereas, the previously described real estate is valuable for the use and lawful purpose of the Corporation;


Now, therefore, be it resolved that the board of directors of the Corporation accept the offer and agree, on receipt of the deed transferring the real estate to the Corporation, to issue all authorized stock of the Corporation, fully paid and nonassessable, in full payment thereof.


By the Board of Directors, this resolution is adopted ______________________.


Chairman, Board of Directors


NOTICE


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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