Monday, May 07, 2007

New notary law in Virginia

For those of you who are licensed in Virginia, be sure to check out HB 2058. The new law provides for electronic notarizations beginning July 1, 2008, but the law also contains a few other changes that are effective July 1, 2007. Most notable is the following provision:
§ 47.1-15. Prohibitions.

A notary shall not:

* * *

3. Notarize a signature on a document without notarial certificate wording on the same page as the signature.
This provision has some real estate practitioners worried because oftentimes, real estate documents have a slew of signatures at the end with the notary certifications on other pages. The article I saw in today's Virginia Lawyers Weekly noted that some Freddie Mac and Fannie Mae forms may no longer be usable in Virginia unless they are modified to comply with this new law.

The new law also requires that "[n]ear the notary's official signature on the notarial certificate of a paper document, the notary shall affix a sharp, legible, permanent, and photographically reproducible image of the official seal," § 47.1-16(C) (emphasis added), meaning raised seals may not be in compliance if they cannot be picked up on a photocopier.

3 comments:

Amy Tatusko said...

Thanks for the information, you are right about loan docs, many have the notary sheet seperate from the docs the borrower signs...I think I send something out to all my title companies and lenders ~ I would hope that someone let them know about the changes, almost all of the companies I work for are out of state.

notary seal said...

Hi there! Thank you for the update on this one. For sure, this is an excellent way of securing documents! Keep em coming and appreciate the info! Have a nice day! :)

My Notary Source said...

What kind of interest are notaries taking in enotarizations? Is the state doing anything to move in this direction other than allowing for them? It seems inevitable that most states will need to adopt something like this, especially once more banks come on board.