Importance of Notary Public

notary-public-2r

Here’s an important issue with regards to having a document notarized by a Notary Public :

The Notary Public plays a vital role in ensuring that documents are legitimate and that fraud does not play a role in these important document.   The main responsibility of a Notary Public is to witness the signatures of documents in order to make sure that the same  person written in the contract is the same person signing the official document. Property identification is shown to show proof of identification ( a driver’s license, government issued identification card or passport ) and then the authorized signatories sign the document.  The Notary Public then stamps a seal of notarization on the document. Once the document has been notarized, it can be processed accordingly.

Sometime ago,  I had a personal client who shared their recent experience on a property they acquired outside of Metro Manila through a family friend.  Since their lawyer was based in Manila, they had the contract notarized in Manila.  The Notary Public then asked where the Seller was as he wasn’t going to sign the contract as both parties ( Seller and Buyer ) weren’t present.

So the lawyer notarized the contract attesting to the fact that the Buyers were present and appeared before him.  Buyers then brought the Contract to the Seller ( based outside Metro Manila ) , who then brought the documents to a Notary Public in their area.  Notary Public then notarized the contract attesting to the fact that the Seller was present and appeared before him.

Conclusion : Two Notary Public may sign on a Contract, Deed of Absolute Sale in this instance , however, with the regards to date when Capital Gains Tax , Documentary Stamps Tax and Transfer Tax, the “earlier date ” the Contract was notarized will prevail.

As of this writing, take note that the Bureau of Internal Revenue ( depends on RDO office ), is now requiring an official receipt from the Notary Public where the contract was notarized.

Visit www.robertgsarmiento.org for blogs, news, case studies and property listings which you may find informative.

Thank you.

robert

Robert G. Sarmiento Properties
Professional Affiliation :
Real Estate Broker’s Association of the Philippines
President, Greenhills Chapter 2008, 2009
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