Group Reorganization Planning Form

Back dating mortgage documents free

The insurance company may

Such relation back or forward contravenes no principle of law and is determined by the intent of the parties as deduced from the instrument itself. The insurance company may or may not allow backdating depending on the state where the person lives. Similarly, a person who wants to buy health insurance and make it effective beginning at a date prior to the current date.

In theory, this would appear on the face of it to be a reasonable request, as it is just a private arrangement between two parties. The transaction should be ratified by minutes or resolutions of the participating entities. He also has no way of knowing whether the backdating will be scrutinized by a regulatory authority or even a Court. These two general areas mean that some legal due diligence should be carried out to identify and address areas for corrective action. There are some cases where this approach is not possible.

Obviously the ideal position is to put in place the legal documents in advance. Well, it depends on what was transferred, and whether it can be said that the relevant transaction has already happened. Ascertain if the backdating would violate a law or adversely affect the rights of third parties including government and regulatory bodies. Together, these factors may indicate that the beneficial interest in the relevant assets has passed from a legal point of view.

So any attempt to rely on the reduction before registration would be ineffective. For example, there may have been a transfer of trade from one group company to another on a particular date. There are some ways in which the lawyer can give himself some protection in agreeing to such a request but they are not foolproof.

For example, the selling and buying companies participating in a business transfer may agree between themselves to treat the transaction as if it happened at the previous year end. Only proceed if the answer is no. The agreement could specify, amongst other things, that costs and revenue would be apportioned by reference to the historic effective date, with adjusting payments being made accordingly.

For example, if a seller had sold his house in December then the seller could have taken advantage of certain tax benefits. This is never a good idea. For obvious reasons, any request to backdate a document for these reasons should be flatly turned down. You will also need to consider two other things from a legal perspective. Assess whether the backdating is intended to deceive or harm third parties including government and regulatory bodies.

With a bit of thought and investigation, is it often possible to achieve a result which gets close to the desired result and also lets you sleep at night. Backdating, in this case, may be useful as the parties, who have already begun acting on the agreement, finish the final details of the written contract.

Such relation back or forward contravenes