WASHINGTON, June 26, 2020 (Newswire.com) - The American Land Title Association (ALTA), the national trade association of the land title insurance industry, announced it has developed principles for notarizations conducted remotely.
The principles outline guidelines to give consumers digital technology options for notarizations that incorporate safeguards to reduce fraud and protect property rights of consumers. In addition, the principles say any remote notarization must meet certain criteria to provide confidence in the transfer of real estate.
“The American Land Title Association and its members have been at the forefront in developing standards for digital closing options that have the appropriate safeguards and authentication process to protect consumers while ensuring the notarizations provide certainty and effective constructive notice under state law,” said Diane Tomb, ALTA’s chief executive officer. “Due to the COVID-19 health crisis, the need for digital transactions and use of remote notarizations has increased. We believe our principles provide a strong foundation for the use of various types of remote notarizations going forward.”
Click here to download the principles.
The American Land Title Association, founded in 1907, is a national trade association representing more than 6,400 title insurance companies, title and settlement agents, independent abstracters, title searchers and real estate attorneys. ALTA members conduct title searches, examinations, closings and issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles.
Public Relations and Marketing Manager
American Land Title Association
Source: American Land Title Association