Reply by PAW_Fl on 7/22/05 7:47am
Msg #53834
Brad, et al,
This idea has been around for at least 10 years and is no further "down the road" than before. And personally, I still think it has a very long way to go before becoming reality.
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Reply by Gerry_VT on 7/22/05 10:05am
Msg #53864
I concur that digital signatures have been rumbling around long enough for some of the first patents on the technology to expire, and they still are playing a minimal role in real estate. I noticed an interesting passage in one of the news releases mentioned on the http://www.mynotarysource.com site: "For documents requiring a notary signature -- typically about one-third of the closing documents -- notaries can electronically sign in and notarize all necessary signatures."
Many states require that notaries maintain physical control of their seals. A digital signature *might* be considered a combination of a signature and seal. So a notary *might* be required to maintain physical control of their private key, which permits them to perform a digital signature. If so, it may be necessary that the signing occur on a computer that belongs to the notary, rather than a computer that belongs to a title company or the like.
Also, if any kind of on-line access is required, that will make signings a bit more complicated, since the notary will either have to use a digital cell phone, or plug into the borrower's phone line. Also the notary will have to pay for a dial-up account in addition to the wideband account (s)he probably already has.
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