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Online Notary: Future of Notarization!: 03/11/2011
Online Notary: Future of Notarization!
Evaluating the Digitalization of Notaries
5 out of 5 by (5) User/s
3 Comments
3 Comments
At RETechnology.com, whenever we welcome in a new hire there are certain steps to orientation that are observed. The grand tour, compliments of Victor! There are the team introductions, usually with the sharing of random, funny facts about each team player. And then there is the necessary paperwork, like I-9 forms, NDA agreements, etc. With this comes the dreaded notarizing of the new hire on various documents.
Why do I say dreaded?
I think I dread any administrative task that pulls me out of my zone at work and interrupts my thinking. Funny I don’t mind being pulled out of my thoughts to meet a new person, or speak to a client, but call someone and try to schedule a meeting? I’d rather Tungle. Maybe I’m alone in this, but Googling a local notary and then tracking them down and trying to find a good time for them to come out to the office is painful. It’s not convenient and nine times out of ten we cannot get someone to the office that same day.
With this in mind, I find the topic of digital video notarization of legal documents particularly interesting.
Online Notary: Future of Notarization!
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Real Estate is just beginning to see the adoption of eSignatures - in fact - it is a product classification here on the site available from the Agent, Broker, or MLS drop down list. But notary goes further. It is a necessary requirement for a truly paperless transaction in most states.
Thanks for the article - great vision on the future.
We live in a world where you can type your electronic or digital signature on a contract and it is acceptable that you do so sight unseen.
But when it comes to on-line real-time interactive video-conference notarization, all of a sudden detractions such as, "you must be able to verify an I.D. or you must physically be in the presence of the signer" illogically enter the conversation.
The reality is over 95% of real estate loan doc notarizations occurred illegally. Why? Because only one party to the contract was present during the signing. Even worse during the signing not one Notary Public can validate or verify the signers I.D. due to the fact that they cannot swipe the signers I.D. (typically a drivers license)to determine the validity of it. So if visually examining the I.D. is the criteria what difference does it make if it through a digital image or not?
I watched the tragedy and devastation of what happened in Japan, and not one time did I think that the devastation I saw was not real. I had no thoughts that the images of people suffering was some how being superimposed and edited.
The name of the learning curb is "ACCOUNTABILITY". Notaries Public are the eyes and ears for all of the people in the State of their commission and their duty is to witness legal transactions between consenting parties.
So what happens when all of the people begin doing business transactions on-line? Should all of the people of the State not know of it. Should those involved in the on-line transaction not have "THE WITNESS FOR THE PEOPLE"..........GOD forbid!
The evolution of e-Notarization on-line, interactive, and in real-time video-conferencing is an idea whose time has come.