Corporations: Underwriting Guidelines

In order to address concerns, the following items are generally required in order to approve title from a corporation:


1.  Verification from Secretary of State in the state of incorporation that the corporation is a legal entity in good standing. If a corporation currently has title to the property, verify the date of incorporation and check the date against that of the deed by which title was conveyed to the corporation.

2.  A certified copy of a resolution of the Board of Directors authorizing the transaction.

3.  Evidence that the corporation legally exists and that there are no liens for unpaid corporate or franchise taxes.

4.  In the case of a nonprofit corporation, evidence that the transaction meets any special requirements under state statute for nonprofit corporations.


See also: