Master in Accounts & high court Advocate
9615 Points
Posted on 06 April 2025
The question is whether the individual can sell the land based on this board resolution.
Key Considerations - *Company's Status*: The company was struck off in 2006, which means it ceased to exist as a legal entity. -
*Board Resolution*: The board resolution dated 2004 appointed the individual as the custodian of the property, but its validity and effectiveness after the company's dissolution are uncertain. -
*Property Ownership*: The land is still registered in the company's name, which raises questions about the individual's authority to sell the property.
Potential Issues -
*Lack of Authority*: The individual's authority to sell the property may be disputed due to the company's dissolution and the potential invalidity of the board resolution. -
*Title Issues*: The sale deed may contain defects or issues due to the company's name still being associated with the property. -
*Legal Challenges*: The sale may be challenged by third parties, including potential buyers or creditors. Possible Solutions -
*Seek Legal Advice*: Consult with a lawyer to determine the validity of the board resolution and the individual's authority to sell the property. -
*Rectify the Company's Status*: Consider reviving the company or obtaining a court order to clarify the individual's authority to sell the property. -
*Obtain Court Approval*: Seek court approval for the sale to ensure its validity and enforceability.
Conclusion The individual's ability to sell the land based on the board resolution is uncertain due to the company's dissolution and potential issues with the property's ownership. Seeking legal advice and exploring possible solutions, such as rectifying the company's status or obtaining court approval, may be necessary to ensure a valid and enforceable sale.