The purchase of real estate by a corporation or other registered business entity provides its own set of very specific requirements at the time of closing. Illinois law provides specific criteria for the documentation that must be executed for a corporation to purchase or sell real estate (as well as execute any financial documents such as a mortgage). 805 ILCS 5/1.01 et. seq. At the time of closing a certificate of good standing must be presented to the title company. This certificate is obtained from the Illinois Secretary of State. Oftentimes this requirement may be waived by providing a print out from the Illinois Secretary of State , Business Services website. If real property is being sold, and it constitutes all or most of the assets of the corporation and this is sale is not in the usual course of business of the corporate entity (for example a bakery is selling a commercial property where some of its operations occur), then a corporate resolution signed by no less than 2/3 of shareholders must be presented. If the sale conveys all or substantially most of the assets of the corporation and is in the usual course of operations of the business entity (a remodeling corporation is selling a real property that has been rehabbed) then the corporate resolution needs to be signed by members of the board of directors. If the corporation is executing a mortgage then the board needs to sign a corporate resolution authorizing the execution of the mortgage. This resolution should also name the person authorized to sign the documentation. The authorized person should be a member of the board of directors.