Importance of a Notary Explained
Basically, agreement must be originally printed for legal purposes. Furthermore, each essential variables need to be found on it including the exact declaration of the agreement, witnesses, the full names of people concerned, and obviously, their signatures. However, even when the document has all the elements mentioned, it would not be strong enough when it is not signed and notarized by an appropriate legal professional.
A notary public actually covers a lot of legal situations. This is can be useful in legalizing assertions, validation of agreements, and many more. To be enlightened with role and significance of notarization, we are going to use the house buying and selling activity as an example.
Firstly, real estate transactions need the agreement of two parties. These two parties would necessarily talk about things like the total price, method of payment (direct cash payment or staggered), shouldering transfer of title, capital gain tax, documentary stamp, and many other things. When all are agreed, these will be put into writing called the contract to sell. This is in fact an agreement that binds both the seller and the purchaser as long as the two parties adhere to the cotract. This must be signed by the people involved and their witnesses. Now, the remaining element in this aspect of this deal would be the notarization. When the contract is not notarized, it becomes weak or even unrecognized. This may imply that when there is a breach of contract in any of the party, no one will be accountable to suffer the legal outcomes. Needless to say, you can get a lawyer and try to prove this issue, but less likely that you will win the case.
The second part of buying a house is providing a deed of absolute sale. This would be the final deal saying that the house is without a doubt purchased and the owner of it is now the buyer regardless of certificate of title. Fundamentally, the seller cannot legally assert anymore that the house is his or her, after the notarization. But if it is not notarized, the situation would become too risky for when the seller tries to swindle the buyer, the court may take side with him due to the possibility non-legal nature of the document.
As stated, buying and selling a property is just one endeavor that needs the services of a notary. There might be a lot more that needs this and if you wished to make your agreement recognized by the legal bodies, make certain to look for a notary. You may try notary services found online to assist you with this endeavor.