Certain contracts, like those involving the sale of goods over a certain value, may require notarization. The Civil Code of the Philippines states that contracts that have a value of more than PHP 500 must be notarized to be enforceable.
Lastly, the notary public makes sure that the content in the document is correct and corresponds with what the parties want to achieve. This way, the parties are aware of the content of the document and their obligations.
This adds an official layer of credibility and integrity to legal documents, making them more reliable in legal settings.
Utilizing a notary provides significant advantages in legal and official transactions. By serving as impartial witnesses, notaries enhance the trustworthiness of documents and agreements.
Some notarizations require the Notary to put the signer under an oath, declaring under penalty of perjury that the information contained in a document is true and correct.
On one extreme is France (and French-derived systems) which statutorily give notaries a monopoly over their reserved areas of practice, as opposed to Austria where there is no discernible monopoly whatsoever and notaries are in direct competition with attorneys/solicitors.
The party or parties to the document sign the document in the presence of the notary. It is important that the affixing of the signatures must be done in front and with the knowledge of the notary public so as to ensure that the parties understand the contents of the document and its legal effects.
Notaries are appointed by a government authority, such as a court, governor, county commissioners, or lieutenant governor, or by a regulating body often known as a society or faculty of notaries public.
While as a general rule, notarization is not always mandated by law, notarization is advisable for various documents. As stated in Section 1, the document that has been notarized will obtain the status of a public document and will enhance the faith and trust of a person or the public in general that such notarized document is true and valid with respect to the statements made therein and the Mobile Notary capacity of the party or parties to enter into or to execute such document.
For instance, if a person acquires a house in a deed of sale that is notarized, the parties to the said document as well as third parties must follow and respect what it states and the legal effects it produces (i.e. transfer of ownership).
The notary confirms that the signer is acting voluntarily without coercion. Once verified, the notary prepares to proceed with the signing.
Since 2007 an additional Practising Certificate is required, so now most, but not all, solicitors in Scotland are notaries – a significant difference from the English profession. They are also separate from notaries in other jurisdictions of the United Kingdom.[26]
For example, in the following documents the law does not provide for their mandatory notarization, but notarization could be recommended due to the importance of the statements or contents found therein:
In real estate transactions, a notary verifies the identities of the involved parties and helps prevent fraud by confirming the voluntary nature of signed agreements.