Notary: Definition, Example and Related Terms
What is a Notary ?
Notaries play an important role in preventing fraud and protecting the interests of parties involved in a contract. They verify the identity of signatories, ensure that all parties understand the contents of the documents, and affirm that the documents are signed willingly and knowingly.
For example, in real estate transactions, a notary might certify deeds or mortgage documents. In international business, they often certify documents that need to be recognized in foreign jurisdictions. In many cases, a document isn't deemed legally valid unless a notary has signed and sealed it.
It's important to note that notaries are impartial witnesses; they do not take sides or provide legal advice regarding the transactions they notarize. Their role is to ensure that the process is carried out correctly and legally.
A notary appointment can vary by jurisdiction, with different qualifications and duties as determined by local laws. Generally, one must pass an examination and meet certain requirements such as a background check to become a notary.
Example(s)
Scenario Description A couple is buying a home, and the mortgage documents need to be finalized. The notary public witnesses the signing of the mortgage documents, verifying the identities of the buyers and ensuring that they understand and agree to the terms. The notary then affixes a seal to the documents, making them officially notarized. A business needs to send documents for a transaction in a foreign country, and those documents need to be authenticated. The notary public certifies the documents, ensuring they are genuine and properly executed. These notarized documents can then be recognized and accepted in the foreign jurisdiction.