What is Notarisation?
Notarisation is the process of having a notary public witness the signing of important documents and then attest to the identity of the person signing them. A notary is an impartial third party who confirms that signers are who they claim to be by checking government-issued photo IDs like driver’s licences or passports.
The notary then stamps the documents with their official seal and signature, essentially verifying the authenticity of the signing. This prevents fraud such as forgery or impersonation and provides legal proof that the documents were properly executed should any disputes arise later.
Key documents to notarise
During a real estate transaction, there are a few key documents that should always be notarised:
- Deeds: This transfers legal ownership of the property from the seller to the buyer and must be signed by both parties and notarised.
- Mortgages: The mortgage contract pledging the home as collateral for the loan needs to be notarised, as required by lenders to verify identities.
- Affidavits: These legally binding statements declaring facts are often required. For example, an affidavit stating the seller has not conducted commercial activity on the property.
- Powers of Attorney: If someone is signing on behalf of another person, the POA form giving them legal authority must be notarised. Notaries are also available to notarise other supporting documents like real estate closing statements.
Read more: Power of Attorney in Singapore: What is POA and when do you need it?
The consequences of skipping notarisation
Attempting to cut corners by skipping notarisation can cause major headaches down the road. Here are some potential consequences:
- Documents can be rendered invalid without a notary seal, which may not meet legal standards, potentially delaying or derailing the entire transaction.
- Issues proving identity or authenticity may arise, as disputing parties can more easily claim forms were forged or signed under false pretences, leading to lengthy legal battles.
- Difficulty verifying documents may occur as lenders may refuse to accept non-notarised mortgage contracts, and title companies may also reject deeds and affidavits.
- No backup if fraud occurs, as the third-party verification offered by notarisation provides additional fraud protection. Skipping it removes a key safeguard.
Clearly, notarisation plays a pivotal role in real estate deals. Taking the time to have documents notarised properly can prevent legal headaches and liability down the road. Protect your interests and investment by ensuring notarisation is never overlooked.
