money go have to come in writing.
LEGAL ENTITIES
Most of the time, escrow isn’t a contract between two people. It is a contract between two or more legal entities. Since these deals are expensive, every party wants to limit their liability and may even create an LLC (limited liability company) just for the sake of owning the property. Because of this, additional steps are taken to make sure the transaction can be conducted. In the US, investors who are in an LLC or corporation are somewhat shielded against liability and loss for their investment. LLC just means that no one’s personal assets will ever be on the line. This is why people create an LLC when it comes time to buy a building. In a lot of states, there are even better tax breaks doing business this way. But mainly it serves as a safety net for investors and business owners.
THE SIGNEE
Whether a company is the buying or selling party, someone will still have to sign the deal and other documents on that company’s behalf. This means there will be another layer of paperwork explaining this. Both sides will want proof that the person signing on the dotted line has the authority to do so. This is called signing authority. Proof of signing authority can be in the form of a corporate charter that expressly gives the individual such authority, letters of authorization from the president, CEO, or board of directors of the entity, or a resolution from the board of directors or equity
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