Welcome to the age of technology! Remote Online Notarization (RON) is the new up and coming way to simplify the closing process and move us further down the super highway of technology. Arizona is the 7th state to pass the “RON” bill in 2019. So, what does this mean for all of you in the investor world who are trying to move your product at lightning speed?
The purpose of RON (Remote Online Notarization) is to adopt technology that makes the notarial act safer, simpler, and of course FASTER! Remote Online Notarization is when documents are notarized in electronic form where the signer used an electronic signature and appears before the notary using online audio-video technology. You can see how convenient this will make your transactions to connect with a notary anywhere anytime without physically needing to meet up with them.
Notaries that want to participate in RON will be required to take additional certifications to be able to perform this particular type of notarization. We could be seeing RON as early as June 2020. An Arizona notary public is a public officer commissioned by the Secretary of State to preform notarial acts. A notary is an impartial witness who must have no conflict of interest.
When dealing with real property we do work with lots of legal documents but most commonly deeds to vest or title transfer the real property from one owner to another. All deeds require a notary to acknowledge them. We at the title company may have our own rules and regulations that we layer on top of the state requirements because we are giving title insurance based off of these notarized deeds.
To be clear, if RON becomes the new kid on the proverbial signature block you should first check with your Title Company to see if this is an acceptable form of notarization for title insuring the property. Some County Recorders offices have already indicated that they would accept this as a valid form of notarization for recordation. RON is a big topic of conversation in the title industry right now as industry leaders come together to weigh the pros and cons of this new form of notarial act. We are dealing with lots of confidential and private nonpublic information so we want to be sure we are adhering to all the laws and regulations to ensure we are protecting the privacy of the client. This is why it important to partner with title companies who are on the cutting edge of technology and the ever-changing industry practices, rules and regulations. Here’s to the future and beyond!
As the largest title company in the nation and a Fortune 500 company, Chicago Title is committed to protecting you and providing resources to do just that!
By Jill Bright, AVP/Sr. Sales Executive Chicago Title