ICYMI: Remote Online Notarization Is Needed Nationwide
Read Co-Founder, COO & President Lynley Sides' opinion editorial with U.S. Senator Kevin Cramer in RealClearMarkets
|Dec 15, 2020|
COVID-19 has moved the world squarely into a virtual existence. Company board rooms have been abandoned for Zoom and similar group meeting platforms. Television studios have been replaced with Skype cameras in living rooms. Families celebrate life events over video chat. Consumers can have anything from groceries to new and used vehicles delivered to their front door. One can even buy a home online from a company like REX.
Yet, many states still require in-person notarization before a straightforward agreement or transaction can be completed. As a United States Senator and President and Chief Operating Officer of REX, we are among the many lawmakers and business executives who support changes to the notarization process.
Requiring in-person notarization may have made sense before video-conferencing and multifactor authentication existed. But safe and available technology has made this practice outdated and unnecessary. And, as COVID-19 has taught us, business and government should have straightforward and easily accessible virtual processes in place so the economy can continue even in times of crisis.
Fortunately, a bipartisan effort is underway in Congress to bring this aspect of real estate sales into the digital age. The bill is called the “Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act.” Backed by Senator Mark Warner, a Democrat from Virginia, this legislation authorizes the immediate nationwide use of Remote Online Notarizations, also called RONs.
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