In response to the work-from-home movement, remote notarization in Illinois came to fruition. Along with numerous other states, these notions sidestep the face-to-face commute for the closing process.
While initially inspired by the COVID-19 pandemic, remote notary laws stay in place. Now, they play a big role in the future of the title insurance industry and real estate as a whole.
The Introduction of Remote Notarization in Illinois
Signed on July 23, 2021, IL Senate Bill 2664 enacted comprehensive provisions for remote notarization in Illinois. These provisions include mandatory education for notaries and the keeping of a journal of notarial acts.
Becoming Certified for Remote Notarization
To jump on the train of remote notarization in Illinois, eligibility entails a thorough application process. This includes four primary steps:
- Hold an Existing Commission: The first step is an obvious one: any notary looking to become a remote notary must hold an existing commission as a traditional Notary Public.
- Contract with a Remote Online Notarization Provider: A notary must obtain a contract with a remote online notarization provider that meets state requirements.
- Complete Required Training and Exam: A remote notary hopeful must complete a state-required training course on electronic notarization and pass an exam to be eligible for remote notarization.
- Register with the Secretary of State: Finally, a remote notary must register with the office of the Secretary of State, including their typical information plus the device they’ll be using to perform remote notarizations.
As far as technology, remote notaries must have a computer, webcam, microphone, and secure internet connection to perform their duties. Additionally, they’ll need a certified electronic seal, electronic journal, and digital certificate containing an electronic signature (all of which must be compliant with a chosen remote online notarization vendor).
Impact of Remote Notarization in Illinois on Real Estate
With the passing of remote notarization in Illinois, title transfers can now be completed remotely with the appropriate authorization. This represents a major plus for Realtors, attorneys, lenders, title agents, home buyers, and sellers.
Not only does this avoid the closing process commute, it also promotes health and safety precautions throughout the continuation of COVID-19 (and now Monkeypox, too!). as digital documentation evolves, real estate professionals perform major document transactions and authorizations with shorter closing periods.
For questions on the Chicagoland real estate market, contact the title and escrow specialists at Plymouth Title Guaranty Corporation.