02. Buying as a company

When a company wishes to purchase a property, the process typically involves authorisation from the company's board of directors or other authorised representatives.

Here is how it works with different scenarios of company representatives: 

One member of the board of directors 

• In this scenario, if the company's articles of association or other governing documents authorise a single director to act on behalf of the company in property transactions, then that director can make decisions regarding the purchase of the property. 
• The authorised director would oversee the purchase process, including identifying suitable properties, negotiating terms, and signing the necessary legal documents on behalf of the company. 

Two members of the board of directors 

• If the company's governing documents require decisions regarding property transactions to be made by two or more directors jointly, then at least two directors would need to be involved in the purchase process. 

• Both directors would need to agree on key decisions related to the purchase, such as selecting the property, negotiating terms, and signing contracts, ensuring that the purchase is conducted in accordance with the company's governance requirements. 

  
  

One member and company officer 

• In some cases, a company's governing documents may authorise a combination of a director and another company officer, such as a clerk, secretary, or deputy, to act jointly on behalf of the company in property transactions. 
• In this scenario, the authorised director and designated officer would work together to oversee the purchase process, ensuring that decisions are made collectively and in accordance with the company's governance procedures.