What do we need when the Buyer or Seller is a Corporation, LLC, Estate, or a Trust?

If the Buyer or Seller is a Corporation, Limited Liability Company, Estate or a Trust, the below documentation must be provided to Village Settlements, Inc. prior to Settlement.

Corporation:

• A copy of the recorded Articles of Incorporation
• A copy of the By-Laws
• A Certificate of Good Standing issued within a month of settlement
• A Resolution issued by and signed by all of the members of the Board of Directors
  • Authorizing the transaction
  • Naming the officer, and his or her title, who will be signing at settlement
• The corporation’s EIN (employer identification number/tax account number)

Limited Liability Company:

• A copy of the recorded Articles of Organization
• A copy of the Operating Agreement
• A Certificate of Good Standing issued within a month of settlement
• A Resolution/Consent issued by and signed by all of the members of the LLC
  • Authorizing the transaction
  • Naming the person, and his or her title, who will be signing at settlement
• The LLC’s EIN (employer identification number/tax account number)

Trust:

• We will need to review the Trust. Please be prepared to provide us with the entire Trust document so that we can verify, as needed:
  • The name of the trust;
  • The name of the trustee(s) and/or successor trustee(s)
  • The powers and authority of the trustee and successor trustee, if necessary;
  • Procedures if a/the trustee has resigned, is incapacitated, is deceased
• The tax account number utilized by the trust, if the Social Security Number is not used for trust tax filings.

Estate:

• Original Death Certificate with raised seal (this is typically the only document required if the living seller and the decedent were married and owned the property as tenants by the entirety at the time of death);
• Original Letters of Administration with raised seal
• Copy of the Will, if any
• Copy of Estate papers filed with the local Register of Wills office
• If the decedent was a resident of another State at the time of death, please contact our office for further instructions.