It seems like such an easy question. The Seller, of course. Perhaps that is why we often see a Contract signed by the ABC Corporation and those words are literally written on the signature line. But someone has to sign on behalf of the Seller if it is a corporation, a limited liability company, a Trust or an Estate.
An entity such as corporation, a limited liability company or an Estate or Trust may own the property, but an entity can’t sign documents. The entity or the Estate or Trust has to have a person sign on its behalf, such as an officer, member, Personal Representative or a Trustee.
Additionally, because of their special fiduciary duties or powers, Trustees and personal representatives cannot give a power of attorney to another individual to sign for them. In some rare cases, a Trust Agreement may allow for a Trustee to delegate their powers, but generally, a person named as a Trustee or Personal Representative must sign.
It is also important that the Seller understands that if their property is owned by an entity or a Trust, then the attorneys at Village Settlements will need to see the formation documents. A list of the required documents can be found here: https://villagesettlements.info/what-do-we-need/ Other documents may be required upon review of the title.
If you are unsure about who should be signing listing agreements and contracts, please contact the attorneys at Village Settlements, Inc., one of the area’s best known title companies for three decades. Our attorneys are always available to speak with you. Call us at 301-590-9300 or submit your question through the “Ask a Question” button on our website, www.villagesettlements.com
