Last Updated on: 22nd November 2023, 06:03 pm
Professionals in a wide variety of fields have found that using remote online notary, (for example https://onenotary.us/), significantly increases productivity and reduces overhead when it comes to notarizing papers and conducting document signings. The financial, insurance, legal, governmental, health, and life sciences industries are the most prevalent users of the remote online notary, although the technological, retail, and service industries are also strong users of RON. Check out the usage scenarios we’ve provided below for more information.
Services within the financial sector and the insurance industry
Notarization is very important in the banking and insurance sectors to ensure the legality of business dealings. RON is most helpful in the following situations:
- Retiree payouts and beneficiary modifications. Spousal permission is required by certain retirement plans in order to make changes to beneficiaries or benefit elections, and this must be documented by a notary public. Faster adaptation is possible for customers of financial managers and life insurance thanks to RON’s assistance.
- Authorization to act on someone else’s behalf. A legal instrument that gives one person or group the power to act on behalf of another in a variety of situations. Because the grantor may be experiencing a medical emergency or needing to get their financial affairs in order fast, there is typically a sense of urgency surrounding the creation and signing of these instruments. The principal’s anxiety may increase due to the lengthy wait time inherent in the conventional notarization process. This procedure can be sped up with RON’s help.
- Changes in ownership of a vehicle. Have you ever had an accident that rendered your vehicle a total loss and resulted in the sale or filing of a total loss claim? A notary public is required if a vehicle’s title is being transferred to a new owner. Lenders and insurers can both benefit from the time savings offered by RON when processing claims and renegotiating payments.
- Trust formation. Trusts, or fiduciary arrangements in which a third party (the trustee) controls assets on behalf of a beneficiary, may be established more quickly and easily using RON than they would be without it.
Services in the field of law
In a similar vein, there are other scenarios in which remote online notaries may speed up and simplify the notarization process for law firms and other organizations in the legal services sector. Among these are:
- The most common types of papers requiring a notary’s services in the context of litigation are affidavits (written declarations from persons sworn to be true) and motions (written petitions to the court to issue a legal judgment).
- A notarization is also required when appointing a power of attorney, or an agent authorized to act on behalf of another.
- Deeds, which are legal papers used to transfer real property ownership, also require notarization.
Authorities at the state and municipal levels
RON is used by state and municipal governments in a variety of contexts, including but not limited to:
- It is necessary to have a quitclaim deed signed and notarized in order to transfer ownership of any piece of real estate, whether it be public or private.
- A child custody agreement, sometimes known as a “parenting plan,” is a legally binding contract between a custodial parent and a noncustodial parent that lays out the terms under which the parents would share parental responsibilities for the parties’ minor children.
In addition to the aforementioned fields, a remote online notary is also applicable in a variety of other contexts, such as real estate deals, business services, an organization’s internal notarizations, etc.
