01/12
Update in RON Legislation
RON legislation has recently passed in New York – making it the 39th state to have done so.
This process allows the use of audio/visual technology to complete a notarial act when the principal is not in the same physical location as the notary public (Mortgage Bankers Association).
Remote Online Notarization (RON), according to Vice President of Corporate Underwriting at First American Title Insurance Company, Chris Hultzman, will “provide greater convenience to homebuyers and sellers, and will also benefit the title industry, the mortgage industry, and the real estate industry in general as real estate transactions become more digital.”
Each state’s RON laws vary in:
- Authentication
- Journaling and retention periods
Take a moment to read DLA Piper’s article for a state by state definition of RON that has passed in the respective state.
For more real estate industry news, stop by Alliance Title’s Blog.