WHICH CONTRACTSHAVE TO BE NOTARISEDAS PER LAW? WHAT ISTHE SIGNIFICANCE OFNOTARY PUBLICVERIFICATION?
DOCUMENTS WHICH NEED TOBE NOTARIZED Not all contracts have to be notarized, unless specifically required by the state law or the municipal law. The most common types of documents that the law requires to be notarized to be legal and valid are real estate deeds. Other documents include adoption papers, wills, trusts and medical release forms.
WHO IS A NOTARY PUBLIC? A notary public is a person who is licensed by a state government to acknowledge and approve others’ signatures. Notaries are certified and trained to review identification papers and witness the signing of a contract.
DOCUMENTS WHICH NEED NOTBE NOTARIZED There are a few types of documents which do not necessarily need to be notarized, such as, any private contract for sale of goods or services, divorce papers (subject to exceptions) and court papers like petitions and motions. The reason - the person signing the form/document is the person who drafted it.
PURPOSE OF NOTARIZATION The purpose is to ensure that the signature of the person on the document is that of the person whose signature it claims to be and thus, avoid legal hassles that may arise if a person denies to have signed that particular contract.
ADVANTAGES Verification of a document by a notary public is an inexpensive way to ensure the authenticity of the document. Also, most state governments provide that notaries be bonded by insurance companies.
ADVANTAGES (contd.) The advantage is that if the notary makes any mistake while verifying the documents such as failure to witness the actual signing or failure in identification, and that mistake causes one to lose a contract lawsuit, then the insurance company, who issued the bond for the notary, will be responsible for the damages incurred by the business.
A particular slide catching your eye?
Clipping is a handy way to collect important slides you want to go back to later.