If the seller is a corporation, is it
fully in a position to sell the property?
You may buy a piece of property in good
faith from a corporation, only to have the validity of the sale
challenged by a stockholder who claims it was not properly authorized by
the board of directors - or that the company was not empowered under its
charter or by-laws to sell the land at all. There are further
complications possible if the company is in receivership, or if the firm
is being dissolved.
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