Case study Business of trust role of public notary

Public notary

A public notary is a professional who witnesses and attests to the signatures of parties on documents. Notaries are also responsible for verifying the identity of the signatories, as well as ensuring that they understand the contents of the document. In some cases, public notaries may also be responsible for administering oaths or affirmations.

The role of public notary has been historically important in facilitating transactions and maintaining trust between parties. In recent years, however, the advent of electronic signatures and other technological advances have called into question the need for notarization in many situations.

Still, there are many instances where the services of a public notary are required by law or otherwise necessary to ensure the validity of a contract or other document. For example, real estate transactions, wills, and trusts often require the services of a notary.

Given the importance of trust in business dealings, the role of public notaries is likely to remain relevant even in an increasingly digital world.

Background:

The role of public notary has its roots in ancient Rome. The Roman Republic established the position of tabellio, or scribe, to record and witness legal transactions. This practice was later adopted by the English common law system.

In the United States, each state has its own laws governing the requirements for becoming a public notary. In general, however, one must be at least 18 years old, have no criminal record, and pass a written exam.

Notaries are typically appointed by the state government, and their term of office is generally four years. Some states require notaries to purchase a surety bond, which protects parties in the event that the notary commits fraud or malfeasance.

Notaries are compensated for their services either through fees charged to the parties or through commissions paid by the state. In some cases, both methods may be used.

Notarization Process:

The notarization process begins when the notary witnesses the signing of a document by the party or parties involved. The notary then affixes his or her official seal to the document, which serves as proof that the signature(s) on the document are genuine.

The notary may also be required to administer an oath or affirmation to the signatory, depending on the type of document being notarized. For example, an affidavit—a sworn statement made in writing—requires the signer to take an oath before a notary that the contents of the affidavit are true to the best of his or her knowledge.

Once the notarization process is complete, the document becomes a public record. This means that it can be used as evidence in court if necessary.

Benefits of Notarization:

Notarization provides several benefits for both parties to a transaction. First, it helps to ensure that the document is authentic and has not been tampered with. Second, it provides proof that the signatories are who they say they are and that they understand the contents of the document.

Notarization can also help to prevent fraud and other crimes. For example, notarizing a deed can help to ensure that the property in question is indeed owned by the person signing the deed. Notarizing a will can help to ensure that the wishes of the deceased are carried out as intended.

Finally, notarization can save time and money by avoiding disputes down the road. If there is ever any question about the validity of a document, having a notary’s seal can be crucial in demonstrating its authenticity.

In conclusion, the role of public notary is likely to remain relevant even in an increasingly digital world. Notarization provides many benefits for both parties to a transaction and can help to ensure the authenticity of a document.