These Businesses Could Benefit The Most From Online Notary Services

these-businesses-could-benefit-the-most-from-online-notary-services

By NotaryLive Staff

Published on 09/07/2021

KEY TAKEAWAYS

  • Law firms can access new clients and use downtime to notarize as revenue source
  • Faster loan processing with easier remote notarization coordination
  • Healthcare hiring boom requires lots of digital paperwork to be notarized

 

 

As online notary services like NotaryLive are becoming more popular thanks to the wider acceptance of Remote Online Notarization (RON), the process of notarizing documents is becoming much easier, more convenient, and more secure.

Early adopters in states where RON is legal are already seeing the benefits of RON and capitalizing on their additional free time and opportunities to expand their business. If Congress passes the SECURE Notarization Act, remote notarization would become instantly legal in all 50 U.S. states, allowing businesses all over the country to take advantage of this new opportunity.

As the business world prepares for the improved efficiency that will come with the widespread use of RON, these are the businesses and industries we identified as having the most to gain from using an online notary service like NotaryLive.

 

1. Attorneys & Law Firms

For attorneys and law firms, the largest benefit comes not from the ability to get their documents notarized but to notarize documents for others more efficiently while gaining access to new clients. RON offers convenience and efficiency while also allowing firms to take advantage of downtime in their workday and generate additional income with a NotaryLive for Business commercial account. 

For more information on how why attorneys should notarize online, check out our deep-dive article that focuses on the benefits of RON for attorneys.

 

Documents Requiring Notarization: 

  • Deeds - Legal documents that transfer ownership of a property from one person to another
  • Mortgages - Legal agreements that allow a lender to take possession of a property if the borrower fails to repay the loan
  • Wills - Legal documents that explain how a person's assets will be allocated upon their death
  • Trusts - Legal arrangements in which a trustee controls and administers assets for the benefit of a beneficiary
  • Power of Attorney (AKA: POA) - Legal documents that empower someone to act on another's behalf in legal or financial matters
  • Advanced Directives - Legal documents that explain a person's desires for medical treatment if they become incapacitated
  • Custody & Guardianship Agreements - Legal documents that specify the terms of custody or guardianship of a minor child
  • Court Documents - Legal documents that must be signed by a notary to be considered authentic

 

2. Mortgage Companies

Everyone involved in the mortgage process can benefit from the use of an online notary service - from loan signing agents to mortgage brokers to potential clients looking to refinance their mortgage. Remote online notarization eliminates the need for all parties to be in the same room. Instead, it allows the notary process to take place online via video call. This allows those who rely on the mortgage closing process to conduct their business much faster. And in a fast-moving market, the efficiency that comes with the streamlined process of RON can make a big difference.

For detailed information on how mortgage companies can benefit from online notarization services, check out our article: How Remote Online Notarization Makes Mortgage Closings Easier.

 

Documents Requiring Notarization:

  • Mortgage Closing Documents - Series of legal documents signed by borrower and lender at the end of the mortgage transaction
  • Property Deeds - Legal documents that transfer ownership of property
  • Loan Paperwork - Legal documents outlining the terms and circumstances of the loan
  • Credit Paperwork - Credit reports
  • Financial Statements - Contains information about a person's financial situation

 

3. Real Estate Companies

While all branches of the real estate industry would benefit from a faster mortgage closing process for the reasons mentioned above, real estate agents, agencies, title companies, and homebuyers could benefit from using RON as well. After all, every real estate transaction comes with lots of paperwork that needs to be notarized from deeds to escrows. For real estate agencies that have notaries on staff already, there is the added opportunity to take on notary clients using RON just like an attorney or paralegal would do with a NotaryLive for Business commercial account.

For detailed information on how real estate companies can benefit from online notarization services, check out our article: Why Real Estate Companies Should Use Online Notary Services

 

Documents Requiring Notarization 

  • Purchase Agreements - Contracts detailing terms and circumstances of real estate purchases and closing documents
  • Deeds & Titles - Transfer property ownership from one party to another
  • Mortgage & Refinancing Documents - Loan terms and restrictions
  • Lease Agreements - Define the terms of the lease
  • Power of Attorney - Allows someone to act on behalf of another in legal or financial problems
  • Affidavits - Written statements produced under oath and used in evidence in court

 

4. The Medical Field

This may sound surprising, but some of the most frequent users of NotaryLive are in the medical field. This is largely because hospitals and other medical businesses have a large workforce with relatively few administrators. With the pace at which hospitals are hiring staff, administrators need to use RON for notarizing background checks and other internal documents. 

To learn more about how the medical field can benefit from RON services, check out our article: https://notarylive.com/blog/how-online-notary-services-are-improving-the-healthcare-industry

 

Documents Requiring Notarization 

  • Medical POA - Empowers someone to make medical decisions on behalf of another person
  • Living Will - Defines a person's desires for medical treatment in the event they become disabled
  • Do Not Resuscitate (DNR) order - Directs medical personnel not to conduct cardiopulmonary resuscitation (CPR) in the event of cardiac or respiratory arrest
  • Medical Authorization - Allows a minor to get medical care in the absence of a parent or legal guardian
  • HIPAA Authorization - Authorizes disclosure of a person's health information to a third party

 

5. Construction Companies

It’s not uncommon to hear the expression “time is money” in the construction industry so why waste time and money waiting for an in-person notarization when the process can be handled much more efficiently in an online setting? Notarizing construction documents like permit applications, building plan requests, contracts, and background checks used to take up a lot of time. But luckily, the slow and painful process of setting up an appointment with an in-person notary, commuting to meet their office, and waiting for them to become available is now a thing of the past.

For further information on how construction companies can benefit from online notarization services, check out our article: Benefits of Remote Online Notarization for Construction Businesses.

 

Documents Requiring Notarization 

  • Construction Contract - Agreement between two parties describing work, risks, duration obligations of the project
  • Payment Application - Requesting payment for finished work or items in place – specifies how to file a payment application, what documents to include, and when
  • Change Order - Adjustment to the existing contract after its effective date changes the work, sum or time
  • Lien Waiver - Agreement between counterparty and payer – asking for payment for completed work or materials
  • Notice of Intent of Lien (NOI) - Notifies construction project parties of non-payment repercussions – warns that a mechanics lien will be filed if payment not paid
  • Mechanics Lien - Legal claim against collateral used to pay a debt. Contractors are protected from non-payment by liens

 

6. eCommerce Businesses

As eCommerce businesses let firms and consumers buy, sell, order and pay online, it’s only natural that they consider digital platforms for all their processes — including notarization. When eCommerce business owners have orders to fill, the stress and time wasted scheduling an in-person notarization near them could be much better spent. Remote online notarization, on the other hand, is a major time saver.

For more info about the benefits of RON for eCommerce businesses, read: Why eCommerce Businesses Should Consider Online Notarization

 

Documents Requiring Notarization 

  • Vendor and Supplier Contracts - Detail terms and conditions of selling goods and services
  • Articles of Incorporation - Establish a corporation
  • Commercial Leases - Landlord and business sign a commercial lease to rent commercial property
  • Memorandum of Understanding (MOU) documents - Determine whether something is legally binding – willingness to enter into a contract/negotiation
  • Employment Contracts - Clariies obligations and employment terms
  • Property Construction and Loan Agreements - Details terms and conditions of a loan to build a property

 

7. Small Businesses

When you’re growing your own business and brand, life can get hectic - which is why it’s so important to cut back on wasted time whenever it’s possible. Small business owners don’t have time to make an appointment and wait for an in-person notary and that’s where NotaryLive can help with instant 24/7 service wherever works for you.

For more info about the benefits of RON for small businesses, read: How Online Notary Services Can Help Your Small Business

 

Documents Requiring Notarization 

  • Vendor and Supplier Contracts - Detail terms and conditions of selling goods and services
  • Articles of Incorporation - Establish a corporation
  • Commercial Leases - Landlord and business sign a commercial lease to rent commercial property
  • Memorandum of Understanding (MOU) documents - Determine whether something is legally binding – willingness to enter into a contract/negotiation
  • Employment Contracts - Clariies obligations and employment terms
  • Property Construction and Loan Agreements - Details terms and conditions of a loan to build a property

 

8. Notarize Online With NotaryLive 

Not all superheroes wear capes; some come with stamps and signatures. Here enters the notary. Not all airlines require notarization, but it's like an extra layer of security. It includes verifying the child’s and the responsible adult's full names, parent’s signature, travel details, and the official notarization stamp. It's the notary's way of saying, "Yes, this is legit!"

You can easily & securely notarize an airline's consent form using an online notary service like NotaryLive.

Here's how NotaryLive Works in 4 simple steps:

How NotaryLive Works 

Click the button below to get started,

Notarize Now! 

 

Didn’t see your business or industry on the list above? That doesn’t mean you can’t benefit from online notary services!

The benefits of Remote Online Notarization can apply to almost any business or individual who needs notarization so we couldn’t possibly mention everyone who can capitalize on the opportunity RON provides. 

For more information on profiting from RON by becoming a Remote Online Notary, read our guide on How to Become a Remote Online Notary

For more information on the benefits of getting a document notarized online, read about the Benefits Of Notarizing Online.

 

 

Does NotaryLive sound like the right fit for you and your business? 

If you’re looking to get a document notarized, you can Notarize it Now

Learn more about our NotaryLive Business Account Options.

For pricing info, click here to visit our Pricing page!

If you have any questions, contact our sales team, and we will be happy to help! 

 

 

FAQ on Remote Online Notarization 

How long does the notarial process take? 

  • The online notarial session will take as little as 5-15 minutes. This includes uploading the document, verifying your ID, connecting with a notary, and notarizing your documents.

Does your ID verification accept passports? 

  • Yes, we accept passports, driver’s licenses, and government-issued IDs.

Is online notarization secure? 

  • Yes. To ensure compliance with state law, online notarizations have strict requirements, including secure verification and protection of your identity. Our platform, NotaryLive, is certified by MISMO, which is a higher standard of security protocols commonly used in the mortgage industry.

For more Frequently Asked Questions about NotaryLive, visit our FAQ

 

 

**Legal Disclaimer - We are not lawyers or attorneys and do not give any legal advice. Please check with your attorneys, advisors, or document recipients if you have any unanswered questions about your documents.

 

 

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Updated Date: 03/03/2024


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