Notwithstanding the collapse of the Western Empire in the 5th century AD, the notary remained a figure of some importance in many parts of continental Europe throughout the Dark Ages. When the civil law experienced its renaissance in medieval Italy from the 12th century onwards, the notary was established as a central institution of that law, a position which still exists in countries whose legal systems are derived from the civil law, including most of Europe and South America.
There are two kinds of notarization that can be checked or inspected depending on the type of document, it may either be a jurat or an acknowledgment which are found in the notarial certificate:
In the United States, a signing agent, also known as a loan signing agent, is a notary public who specializes in notarizing mortgage and real estate documents.
An example of this is in the case of a deed of transfer or sale of a motor vehicle. Certainly, the value of this property exceeds the PHP 500 threshold, thus, enabling any third person to rely on the fact that the transferor or seller is the owner of such motor vehicle and that he wants to transfer or sell it to another person.
This is why Notaries are essential to preserving the public trust, as they ensure the integrity of documents while protecting the rights of all parties involved.
Also, the capacity of the parties to sign and execute the document will not be doubted, as the notary has checked this before the document was signed.
Various laws mandate notarization for specific documents. For example, the Family Code requires the notarization of prenuptial agreements or agreements between future spouses concerning their assets, so if one has already proposed marriage to another and wants their properties to be divided to a certain extent, they may execute a prenuptial agreement duly notarized, otherwise, such agreements will be invalid.
the duty of a notary is to the transaction as a whole, and not just to one of the parties. In certain circumstances a notary may act for both parties to a transaction as long as there is pelo conflict between them, and in such cases it is their duty is to ensure that the transaction that they conclude is fair to both sides.
Notaries prevent fraud by confirming the identity of signatories, ensuring documents’ accuracy, and maintaining meticulous records. They require personal appearance for verification, which deters identity theft and document forgery, and serve as a reliable reference for future disputes.
States determine the maximum fees Notaries may charge for notarial acts. However, you may be able to charge for traveling to the signer or providing extra services like printing documents.
In any case, the notarization of a document should revolve around truth and faith, and should never be used to shield wrong-doings and to validate a false statement.
For instance, if the amount to be paid for the services under a service agreement is PHP400, the parties thereto can choose not to notarize the service agreement if the risk of either party reneging on the agreement is minimal.
Thus, if an ascendant dies and has prepared a will and if it is found not to have been properly executed and notarized, Estate Planning then the descendants cannot enforce that will.
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