Tuesday, June 9, 2009

Conflict of Interest!!!

If the notary lives in a community applying for rezoning the notary will benefit directly or indirectly the notary can not notarize the documents that will be filed with the County zoning department. While the notary may be liable for sanctions for the notarizations it is not clear whether the notary's conflict would invalidate the notarizations. A notary who used to live in the community but does not now and does not own property in the community does not have a conflict of interest. Reputable banks call in outside notary when safe deposit boxes are opened and inspected after non-payment occurs. They do this to avoid any appearance of conflict of interest. The Va Notebook says the following:
Under the Virginia Notary Act, a notary may not perform any notarial act with respect to any document if:
The notary is a party to the document
The notary’s spouse is a party to the document
The notary or his or her spouse has a “direct beneficial interest” in the document
Notaries should not notarize any document when there is any possibility that the contents of the document will benefit them or their spouse. Notaries may notarize wills in which the notary is fiduciary. Notaries must NEVER notarize wills in which they are named beneficiaries. If you are uncertain about the difference, please consult an attorney before notarizing