The impact of the Coronavirus have created opportunities for New York based notary publics.

Executive Order 202.7

Prior to March 2020, it was standard practice to conduct notary services in person. Specifically, both parties were required to be physically for the notarization to have any legitimacy.

On March 27th, 2020, Governor Andrew Cuomo signed executive order 202.7¹, allowing for modifications of the standard practice for notaries. Under the executive order, notarial acts are “authorized to be performed utilizing audio-video technology provided that the following conditions are met:”

• The person seeking services, present a valid photo ID during such conference.
• Video conferences allow for direct interaction between both parties. No pre-recordings allowed!
• The person must represent that he or she is physically situated in the State of New York
• The person must transmit by fax or electronic means a legible copy of the signed document on the SAME DATE IT WAS SIGNED
• The Notary may notarize the transmitted copy of the document and send back to the person
• The  Notary may repeat the notarization of the original signed document within 30 days after the date of execution.

The Game Has Changed For NY Based Notaries. How?

More Safety and Comfort. You can continue to supply quality services, from wherever you please, without potentially compromising your safety.

Expanded Pool of Opportunity. If I understand correctly, you are no longer confined to people you must meet in person. Your client base now spans the State of New York.

There is a Huge Efficiency Opportunity. Judicious implementation of technology means you can up your churn and rake in that money. No more traveling to your next appointment. No more back and forth with scheduling that perfect time to meet. Lastly, there will surely be clients that are willing to work with you at any hour of the day.

The pandemic has been tough on millions of Americans. But it’s also created opportunities for you to take advantage. The order was intended to last for a short period but has been
repeatedly extended. I don’t have a crystal ball but if I had to guess, I think it’s safe that this will continue to be extended until New York experiences a return to normal. Time will tell if the amendments to current rules will be permanent.

How are you adapting to these changes? Is remote notarization here to stay? Let us know!

Sources

¹ NY Executive Order 202.7

The post New York Has Gone Remote (For Now) appeared first on Notary Heroes.

Congratulations!

You’ve decided you want to become a notary public. For many, it’s a solid side hustle that can make for a rewarding living. Before we dive into how to get certified, let’s understand the importance of notaries in society.

It is my goal to illustrate the value proposition of getting your commission!

Preamble: The Agreement

Before we even discuss notaries, let’s talk business, literally.

Think about the last purchase you made. Perhaps it was a coffee, cat litter, or a suit. We don’t really think about it but two elements underpin the exchange so that it can work: 1) an agreement and 2) trust.

Demonstrating the first is easy. The exchanging of a good or service at a given price between a buyer and seller is acknowledgement that both parties agree to do business. If this agreement wasn’t in place, the transaction couldn’t happen.

The second element is somewhat harder to convey and may be better explained by asking the following: Would you be more willing to engage in business if there was no system in place to seek resolution in the event of a major dispute? My guess is no. Bad actors could exploit this with impunity.

This is where a legal system is essential.

The Legal Infrastructure

A legal system and infrastructure that grants buyers and sellers these protections engenders confidence that both parties will act in good faith. Otherwise, the hurt party can seek damages through a court.

In business, disagreements are guaranteed and some are more easily resolved than others. I will illustrate two examples, one requiring the legal system and one not.

A Simple Dispute Where The Legal System is Not Used

Your Starbucks coffee doesn’t taste quite right. You kindly raise the issue with an employee. He or she agrees to offer you a refund, replacement, or both.

Conflict resolved, without much hassle.

The cost of resolution is low, which helps explain why the dispute was quickly resolved. To be specific, a replacement drink is a few dollars, at most. Furthermore, it takes little time to remake, implying it costs little of the employee’s time.

Another important takeaway here is that the legal system wasn’t used. It could have been, but the cost to resolve this in this matter would have cost more than the damage sustained, again from the buyer’s perspective, the price of the coffee.

A Complex Dispute Where The Legal System is Relied Upon:

You discover that a close cousin purports that she has control over your grandfather’s bank accounts, per a power of attorney. A review of his statements also shows a withdrawal of $50,000 over the previous two months. You consult your grandfather, who in fact is physically and mentally well, to verify these transactions. You learn that he granted no such permission and is unaware of these withdrawals.

With this news, you confront your cousin, who insists she has the Power of Attorney with your grandfather’s signature proving she was in fact granting that permission. She shrugs off your grandfather’s conflicting story as early signs of senility and dementia. She also indicates that she will not change her position on the matter.

Suspecting that this agreement between your grandfather and cousin is illegitimate, you bring the matter before a court of law.

You present your case to the judge, who requests the Power of Attorney. Your cousin presents the document, with your grandfather’s signature. The judge carefully examines it and immediately rules the document invalid. The judge also orders that your cousin do the following:

1. Restore your grandfather’s position for the monies withdrawn.
2. Pay your attorney fees for the case.

Conflict resolved.

Why was the judge so quick to rule? It turns out your grandfather’s signature was legally illegitimate, but how?

Enter The Notary Public

Notaries play a vital role in building trust and confidence for parties conducting business. Put simply, they legitimize agreements.

What is a legitimate agreement? Your signature is one element of affirmation, but it may not be enough, especially for important deals, like signing off on a mortgage.

Why is it not enough?

Put simply, your signature on a document does not necessarily prove you signed it. Think about the case above. It appears that the cousin forged the grandfather’s signature to get control of his finances.

So how do you legitimize this?

With a notarized document of course! A notarized document demonstrates that the person who signed the document was in fact that person. It minimizes (but not fully eliminates) the doubt that the signature was forged.

How Does This Process Work?

To get a document notarized, you generally present the unsigned document to a notary public. You present your identification to the notary, who is able to verify that you are the person you claim to be, as demonstrated by your signing of the document. This verification can easily be presented before a judge should the legitimacy of the agreement ever come into question.

Pretty awesome right!?

Why Become A Notary Public?

Help society move forward. People will always rely on notaries to help them with their personal affairs. It can be meaningful work that others will value and thank you for!

Distinguish yourself at your job. Every company benefits from having an on-site notary. It may make you more valued by your employer, which may translate to greater job security.

Boost Your Earning Potential. Believe it or not, you can actually make a solid living off your commission. There’s some serious money to be made as a loan signing agent, which your commission qualifies you to be. There are accounts of people that can turn this into an annual 6 figure income.

Diversification of Risk. I am a firm believer that being an employee is one of the riskiest decisions people make nowadays. A single source of income quickly turns into a liability should it go away. The extra income earned from your practice can help when times are rough.

Independence and Flexibility. You can work as much or little as you want. For me, this is a side hustle for my 9-5 job. For others, it’s a full time commitment.

Self Empowerment. Getting your commission gives you an opportunity to be an entrepreneur, without having to take a tremendous leap of faith by quitting your job. If done right, you will be forced to elevate your game and think like a business owner. This could be the start of a potentially life changing path.

You Get Out What You Put In

If you’re thinking that this is an easy path riches, this is not that. Your notary practice should be treated as a serious business. It will be a grind and ultimately rewarding if done right.

Congratulations. You’ve made it this far! I hope for you, this is the first important step in this exciting opportunity.

Are you ready to take the plunge?

The post What is a Notary Public and Why You May Want To Be One appeared first on Notary Heroes.

Ever wonder what it takes to be a notary public? The qualifications are actually quite clear and simple to follow. In this post, I will narrow down some of the common threshold items that most states and counties are looking for to help you determine if you’re eligible to apply to become a Notary public.

Let’s get started.

Preliminary Qualifications

Age

Across all states and counties. The minimum age requirement is 18 years old. I guess this makes sense since you can legally vote at this age too. The only exception to this is Nebraska, where, for some reason the minimum age, is 19.

Go Figure.

Place of Residence

Generally, you must reside in the state in which you are applying for your notary commission. Certain places require you reside in specific counties. The general exception to this rule is if you work in the state in which you are applying for, but live in a bordering state. Consider the following example:

An aspiring notary wishes to apply for his commission. She lives in Memphis, Tennessee but has works in West Memphis, Arkansas. Under these circumstances, the hypothetical applicant above could in fact apply to be a notary in Arkansas. 

Maintenance of Good Standing

If you have no prior convictions, you should be able to proceed with the application process. It’s worth noting that if an applicant has restored a conviction, he or she would be eligible to apply.

Educational and Exam Requirements

A notary public may be required to take a course, exam, or both as part of the application process.  Unfortunately, the rule around this differs from one state to the next. For example,

• Oklahoma has no requirements for either.
• Ohio, requires both a course and exam.
• New York requires an exam only. 

If you reside in a state or country where these two items are required, plan accordingly. 

If you’ve met the preliminary requirements and are able to complete the required education and testing required, congratulations, you are well on your way to opening up shop.

Additional Considerations

Keep in mind there are a few other items to keep in mind as you engage in business. Consider the following:

• Notary Bonds: Some states require that notaries have bonds. This is intended to protect the notary in the case that he or she fails to carry out his obligations which results in damages.  
• Notary Journals. You may have to take a journal of all the notarizations that you perform for you clients.
• Notary Seals. You may be required to affix your seal to notarized documents. In most cases, the notary stamp will do. 

One Final Note. Yes…West Memphis is in the Mississippi Township, which just so happens to be in Arkansas. See!?

How was your experience through the application process? Let us know!

The post Want To Be A Notary? Here’s How appeared first on Notary Heroes.