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Posted by  FlaMac on 4/5/06 7:18am
In Florida, the law simply states that a notary can't notarize if he/she has a financial interest in or is a party to the underlying transaction. It remains vague for contractors. But for employee's, it goes on to state that the notary may not receive a benefit other than his or her salary and the fee for the notary service as defined by law. The law was written before there was such a thing as a signing agent aka mobile notary. It has not been updated to reflect the times. So, there is no clear definition and each notary is left to interpret the law for themself.
IMO, You are absolutely correct. If there is any type of negotiation in your fee; you become a party to the transaction. If a $100 is on the line due to RTC; the notary is no longer impartial.
In Florida, it's a mute point because the law doesn't address it either way. Unless you want to say that "financial interest" equals " party to the loan". We still live in the cave down here If you ask 10 different attorney's; you'll get 10 different interpretations.
Which is why I wish we had a national signing agent association that could lobby these issue's for us. The NNA is only in it for the profit and we need a non-profit org that would be strictly about the member's needs. |
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