WASHINGTON, D.C. – The House of Representatives late last month passed the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act, which could assist in speeding up the process for homebuyers while at the same time lowering the costs associated with doing so.
The SECURE Act – approved by the House on February 27 – could be a significant boon to small businesses and consumers who regularly utilize notarizations – a process that assures the parties of a transaction that a document is authentic – particularly those who are looking to purchase a house, as real estate deals often rely on having paperwork notarized.
If signed into law, the SECURE Act will create standards and technical requirements for remote online notarization for notary publics nationwide; remote work of this nature gained popularity during the COVID-19 pandemic when social distancing was considered essential to curb the spread of the virus.
The SECURE Act would also mandate that U.S. courts and state governments recognize the validity of remote notarizations, even if the notary public in question resides in a different state than their client.
Currently, laws governing notary publics require that they be in the same location as the paper documents that the client is signing in order to physically witness the transaction; however, this requirement is often considered cost-prohibitive and extremely inconvenient, matters that came to a head during the pandemic when government-mandated lockdowns and quarantines were the norm.
If the SECURE Act is indeed signed into law, it could immediately evolve the real estate industry, and both speed up the complicated process of buying a home while lowering the costs of doing so at the same time, both being factors that are greatly needed at the present time.
Florida Gulf Residential specializes in the areas of Sarasota, Siesta Key, Bradenton, Lakewood Ranch, Longboat Key, Venice, Palmer Ranch, Osprey, Anna Maria Island and other Gulf Coast communities. Feel free to give us a call at (941) 304-1975 so we can answer any questions you may have.
Christopher Boyle is an investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher helps keep a keen-eye on what’s happening on the West Coast of Florida on behalf of FLORIDA GULF RESIDENTIAL – Your Real Estate Expert for Sarasota and Surrounding Areas.
