OTS 3.11


Problem A:

When should the authority and identity of officers of a corporation to execute a corporate deed not be questioned?

Standard A:

The authority and identity should not be questioned when the deed is executed by an officer, in the absence of known facts creating a doubt. This standard is not intended to apply to the requirements of an attorney for the purchaser from a corporation or an attorney for such a purchaser's mortgage lender at the time of the closing of the purchase or the loan.

(Effective as amended November 11, 1972; prior inconsistent Standard first effective November 1, 1952 and amended at various times)

Problem B:

Is a corporate deed sufficiently executed where the name of the corporation does not appear in the signature or certificate of acknowledgment?

Standard B:

The title is not unmarketable where the deed appears to be signed and acknowledged by the corporate officers if the deed as a whole purports to be that of the corporation.

(Effective May 19, 1955)

Problem C:

When should a corporate existence (either foreign or domestic) not be questioned?

Standard C:

Where an instrument of a private corporation appears in the title and has been of record for a period of at least seven years, and the instrument is executed in proper form, the examiner may assume that the corporation was legally in existence at the time the instrument took effect.

(Effective May 11, 1967)



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