This will offer new conveniences to buyers and sellers once the infrastructure to support it is available.
-Sunil
| | UPDATE ON RON | Remote Online Notarization | | | As of January 1, 2024, 44 states have enacted some form of Remote Online Notarization (RON) legislation with California being the most recent state to follow suit. While California currently allows RON to take place by notaries commissioned outside of the state, the state will take some time to build the necessary infrastructure and regulatory framework for onboarding notaries and RON platforms.
Remote online notarization allows individuals, home buyers, home sellers, banks, law firms and other businesses to connect with a notary over the internet. Authorized online notaries can now notarize electronic documents for clients located anywhere in the United States over a secure audio-video connection. The entire video chat, including identity verification and the notarization of documents, is recorded in real time and saved for future reference. Documents are signed and stamped digitally and then stored online. Simply put, you can connect with a notary anywhere, anytime, without physically needing to meet them. | OVERVIEW OF RON | The process of RON must include: | | | | CREDENTIAL ANALYSIS | This process involves a third party aiding the notary to ensure the validity of a government-issued ID. This includes verifying the security feature of the ID such as fonts, holograms, and bar code information to ensure the IDs are not fraudulent. In addition, the ID is inspected for tempering or damaged. | | | | SIGNER NOTIFICATION | This process involves a third party affirming the identity of an individual using public or proprietary data sources which may include Knowledge Based Authentication questions (KBA). KBA is a process wherein the signer is asked a series of identity/history questions about their identity and history. The questions have a very strict time limitation as well as a limit of two attempts per question making it difficult to simply guess or research the answers. | | | CAPTURING AND MAINTAINING A RECORDING OF THE NOTARY PROCESS | The requirement for recording the notarial act include a continuous synchronous audio and video feed with good clarity such that all signers can be clearly seen and understood at all times. | | | | | AUDIT TRIAL | Documents completed as a part of the RON process should include an audit trail that records the significant actions taken by all signers and the notary along with a time date stamp. | | | | | TAMPER SEALED DOCUMENTS | Upon completion, each document needs to be tamper sealed. Tamper seal ensures that any subsequent change or modification to the electronic document would be evident. | | | | RECORD STORAGE | The notary must maintain an accurate and reliable journal with safeguards for information security as well as privacy protection. It also includes a copy of the audio and video recording where applicable. | | | States that have Passed Remote Online Notary Legislation (as of January 1, 2024): | | Please check with your Chicago Title Escrow Officer or Sales Executive
to see if RON is available in your location. | | | | | | | | | | | |
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