GOV

Governmental Entities, Authority of

To insure a transfer or mortgage by a governmental body, you must verify that (1) it has legal authority (e.g., by statute) to engage in the transaction (the entity may not be able to mortgage in some cases); (2) it has provided all necessary notices and secured all required appraisals (e.g., it may be required to publish and secure an appraisal); (3) it has secured all required approvals (e.g., counsel, commissioner, or board approval; some transfers require public vote of the populace); (4) the proper persons signed the instruments; (5) the instrument contains the appropriate statutory language.