Source: Citizens Insurance Seeks 14.2% Rate Hike

Citizens Insurance Seeks 14.2% Rate Hike

If a Florida coporation (C, S, or LLC) is the proposed Buyer in a contract for purchase and sale, then the name of that CORPORATION IS what should go in the “Buyer” noted on page 1 of the Contract. The name of the person signing on behalf of the corporation is what would go on the signature line on the last page and note there position in the company. The best practice to fully express things would look something like this, where John Smith is the sole member of say an LLC called House Purchasing LLC: The name of the Buyer on page 1 is “House Purchasing LLC” and the name on the signature line John Smith (signed), John Smith (printed), Member, House Purchasing LLC, a Florida limited liability company. So, the name of the “Buyer” is House Purchasing LLC and the signature line is John Smith (printed), Member, House Purchasing LLC, a Florida limited liability company.

It’s typically good practice to also include a corporate memorandum authorizing John Smith to enter into the Contract on behalf of the corporation. And check the Sunbiz filing to make sure that the company exists in Florida? Or if it’s a “foreign” (non Florida) entity has filed to do business in Florida? Is active and current in the corporate filings? Notes the name of the person signing, their capacity with the company and that matched the Contract information?

Source: Flood Ins. to Raise Rates for Some Citizens