There are three classes of corporations recognized by our laws: Public municipal corporations, corporations technically private but of a quasi public character, as railroads, etc., and corporations strictly private, all of whom, under general or special conditions have the power to acquire, hold and transmit the title to land. A corporation, however, has only such powers as its charter gives it, either expressly or as incident to its existence. It would seem, therefore, that the organic act, or some portion thereof, should supplement every conveyance purporting to pass title to a corporation, but in practice this is seldom done. As corporations are now almost universally organized under general laws which define their powers in this respect the matter presents fewer intricacies than formerly. Whenever the charter of a corporation, or the general law under which it is organized, prohibits the purchase of land for any purpose, a deed to it would be an utter nullity. But if it has the power to purchase and take, though for a specific purpose only, it becomes fully invested with title by a deed properly executed and may transfer the same to a third party, notwithstanding the property was acquired and used for a purpose forbidden by the organic act.

As a general rule, deeds to and from corporations are effective to covey the land therein described, and titles so derived cannot be impeached collaterally, nor their validity be questioned by third persons, on the ground that the transaction was beyond the corporate power. In such a case the State alone may interfere.

Deeds by a municipal corporation stand upon a somewhat different footing from those of private corporations generally, and for their proper proof it is necessary that the authority for their execution should also appear.31 This authorization will usually take the form of a resolution of the municipal legislature. The resolution should always appear in the abstract in connection with the deed made pursuant thereto.

The legal title to the property held by incorporated religious societies is usually vested in trustees, and conveyances by such societies are effected through the media of these trustees. More than ordinary care should be observed in abstracting such conveyances. The method of conveyance, if pointed out or prescribed by statute, is of the essence of the deed, and where the abstract does not disclose a full statutory compliance it should be sent back to the examiner for further investigation.

31 Ward vs. Lumber Co., 70 Wis., 445.