To minimize risk to the individual performing the notary and the risk to the credit union, we cannot notarize the following documents-
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Wills- We will not notarize a will for a member as the risk is too great and wills are not “required” to be notarized in Oregon.
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“Wills are perhaps the most contested documents notary publics become involved with, and even when they are done correctly, a notarization may be called into question. When an estate goes into probate, a will can be invalidated if the notarization is incorrect, and the notary public could be held liable for damages by the benefactors”- State of Oregon notary website. Most attorneys who draw up wills have notaries on staff. The law firm is getting paid for the creation of the will. Let them figure out the notary if they think they need one.
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“Wills are perhaps the most contested documents notary publics become involved with, and even when they are done correctly, a notarization may be called into question. When an estate goes into probate, a will can be invalidated if the notarization is incorrect, and the notary public could be held liable for damages by the benefactors”- State of Oregon notary website. Most attorneys who draw up wills have notaries on staff. The law firm is getting paid for the creation of the will. Let them figure out the notary if they think they need one.
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Deeds of any kind that are not for a loan that we are doing.
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Civil penalties resulting from notarization of deeds are the penalties notary publics pay most often. They are also the penalties notaries are most often afraid of incurring. If a notary’s misconduct unintentionally or intentionally damages the someone as a result of the notary being placed on the Deed, the notary is personally liable for monetary damages without limit. For example, if an improperly notarized grant transfer deed causes the deal to fall through, and that deal costs the signer thousands of dollars, the notary can be sued to recover those losses.- State of Oregon notary website
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Civil penalties resulting from notarization of deeds are the penalties notary publics pay most often. They are also the penalties notaries are most often afraid of incurring. If a notary’s misconduct unintentionally or intentionally damages the someone as a result of the notary being placed on the Deed, the notary is personally liable for monetary damages without limit. For example, if an improperly notarized grant transfer deed causes the deal to fall through, and that deal costs the signer thousands of dollars, the notary can be sued to recover those losses.- State of Oregon notary website
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Loan documents for any other financial institution
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The other financial institution is getting all of the benefit and none of the risk. We will only notarize our own loan documents.
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The other financial institution is getting all of the benefit and none of the risk. We will only notarize our own loan documents.
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A random document a member creates without the notary section on the document.
In addition to what we cannot notarize, we also will not allow staff to be a witness for any members documents if it requires one. The member must bring their own witnesses and we will not notarize a witness signature if they are not a member with us.
As with everything, there is always room for grey area management so if you have a particular situation where you feel an exception might be able to be made, please talk to your manager.