Recommended Practices

informational articles
for attorney

title rate calculator

C-1
CORPORATE SEAL

A corporate instrument may be passed where no corporate seal was affixed.

Back to Top

C-2
CORPORATION DEED TO A COMPANY OFFICER

A deed from a corporation to a grantee who from the record, appears to be an officer, director or stockholder of the grantor corporation or a grantee obviously related to such a person, may be passed without question where title has reached a purchaser for value.

Back to Top

C-3
CORPORATION - DEEDS DATED PRIOR TO INCORPORATION

A. When a deed is dated and recorded before the certificate of incorporation of the grantee is filed in the office of the Secretary of State and a confirmatory deed is obtained from the grantor to the corporation after the filing of the certificate of incorporation, the deeds will be passed as sufficient without any requirement for further instruments from the incorporators or stockholders of the grantee or from those who furnished the consideration of conveyance.

B. When a deed is dated before the certificate of incorporation of the grantee is filed in the office of the Secretary of State and the deed is recorded on the same day as the certificate is filed or later, the deed will be passed as sufficient without requirement of proof of delivery or of any confirmatory deeds.

Back to Top

C-4
FRANCHISE TAXES

When franchise taxes accrued more than 10 years ago against a corporation which has been dissolved within the past ten years the franchise taxes which are more than ten years old may be disregarded, provided premises have been,or are being, conveyed to a purchaser of value. If such dissolved corporation is the present owner proof of payment of taxes accruing subsequent to January 1, 1948 should be obtained. As to undissolved corporations all franchise taxes accruing during the period more than ten years last past may be disregarded provided title has passed, or is being conveyed, to a purchaser of value.

Back to Top

C-5
INTERLOCKING DIRECTORS OR STOCKHOLDERS

A conveyance from a corporation to a corporate grantee having interlocking directors or stockholders may be passed without question where title has reached a purchaser for value.

Back to Top

C-6
OLD CORPORATIONS

Where
a corporation has been out of title and the property has been improved for over ten (10) years, no search need be made for a certificate of incorporation.

Back to Top