Title & Escrow Requirements for Entities

Title & Escrow Requirements for Entities


0 Flares Facebook 0 Google+ 0 LinkedIn 0 Twitter 0 0 Flares ×

By: Al Willey – VP – Escrow Administrator & Senior Escrow Officer – Commercial Title365

Sometimes closing an Escrow with an entity as one of the principals becomes a little difficult. There are times the Principals themselves aren’t quite certain exactly who is authorized to sign on behalf of their LLC, partnership, Family Trust or Corporation.

Anytime you have an entity (as opposed to a natural person) involved in selling a property and/or purchasing a property, please know that the Title/Escrow Company will require the following documentation prior to recording for review:

1) Limited liability company (LLC)

– Copy of the Articles of Organization

– Copy of the Operating Agreement

– Certification of good standing in the State they were created

2) Partnership – General or Limited

– Copy of the Partnership Agreement

– Copy of the Certificate of Partnership

– Certification of good standing in the State they were created

3) Beneficial Trusts

– Copies of the Trust Agreement (if Trust too lengthy then copies of the first page of the Trust showing the Trust name, pages dealing with the Trustee powers to sell, convey, encumber, etc. and the signature page of the Trust, along with any Amendments to the Trust)

4) Corporation

– Articles of Incorporation

– Certificate of Good Standing

– Corporate Resolution

Please keep in mind that all of the documentation stated above will help in determining who the members are and who is responsible for signing the closing documents.

– See more at: http://saaronline.com/news/2014/09/15/title-escrow-requirements-for-entities#sthash.WQnhfwf6.dpuf

Leave a Reply

Your email address will not be published. Required fields are marked *

Top
0 Flares Facebook 0 Google+ 0 LinkedIn 0 Twitter 0 0 Flares ×