![]() However, our research has found, at least as of the date of this post, that the cost associated with the third party remote notarization services are cost prohibitive). (We recognize that there is a new law going into effect May 1, 2020, Wisconsin Statutes Chapter 140, that allows for remote notarization of real estate documents via commercial remote notarization software. Acknowledgement, however, to be legally effective, requires the notary to be physically present in the same room to witness the person signing the document before the notary can place their seal or stamp on the document. The most common type of this third party certification is to have the signature witnessed by a notary public, or, as described under the statute, “acknowledgment”. Wisconsin law proscribes only two ways for this third party certification to be accomplished. ![]() This provides assurance that the document isn’t being executed fraudulently. The purpose of this third party certification requirement is to provide assurance to the other involved parties and the public that the person who signed the conveyance document is actually the person they say they are. This is required by law in order for the Register of Deeds to accept the document and to record it–the final step in making the real estate conveyance legally effective. One such formality is that the parties signing the conveyance documents must have a third party certify their signature before it is delivered to the Buyer. These closings occur in person for several reasons (amongst them convenience and historical tradition), but another important reason is that there are legally required “formalities” that must be met for the conveyance of real estate to legally occur. ![]() The closing occurs when, simultaneously, the title and ownership of the real estate transfers from the Seller to the Buyer (via a deed) and the transfer of money from the Buyer to the Seller occurs. At the closing, all of the involved parties physically get together in one location and execute all documents to finalize the transaction. ![]() Due to the COVID-19 crisis and the impact of the Wisconsin Safer at Home Order, we have been faced with the challenge of how to legally accomplish real estate transactions while adhering to social distancing requirements.īefore we even had heard of the concept of “social distancing”, a real estate transaction would culminate in an in person “closing”. ![]()
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