Can a buyer of real property ask to see private documents if the seller is a corporation?
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Can a buyer of real property ask to see private documents if the seller is a corporation?
Selling a property In WA state that is held by a NV LLC. The buyer is asking to see the Operating Agreement of the LLC to verify I am a manager and have authority to sell. It seems strange to show them what I would assume is a private internal document. They are also asking for a Cerificatet of Good Standing which I can understand.
Asked on September 21, 2010 under Real Estate Law, Washington
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
They have a right to ask for it, and a legitimate interest--as stated, they want to make sure that you have the authority to do what you purport to do. You don't have to show it to them, of course--but then, they don't have to buy the property. If you find this buyer's legal request to be intrusive, offensive, or burdensome, the recourse is to not transact business with them. You cannot force them to sell to you and not view the documents; buyer's have a right to set any non-illegal conditions on their purchases, and there is nothing illegal about showing someone an operating agreement of an LLC or a corporation. So the only question is whether this is something you'll kill the sale over.
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