As anyone who has ever tried to decipher a license agreement or file a patent claim knows, legal documents can be quite hard to read - to the point of being confusing to those unfamiliar with the jargon or specific wording and language. In Quebec, a professional order, the Chambre des notaires du Québec regulates the notarial profession. For example, practicing professionals must send in reports to the chamber every month regarding last wills and inaptitude mandates, regardless of whether they have certified any.
Further, notaries possess in trust accounts, where funds from customers are collected, only to be used to complete transactions and pay fees, since it is the notary’s responsibility to make sure that there are no outstanding mortgages, loans and hypothecs (aside from new financing or refinancing) unpaid on the property.
Thus, to obtain final acquittances, the notary pays off any hypothecs to be radiated, as well as school and municipal taxes, and condo fees if there are any (required from all co-owners in a condominium). Once the transaction is complete, the adjustments at times result in moneys being prorated and given back to the party who otherwise would en up overpaying the bill(s). School commissions and the city refrain from issuing revised bills for novel homeowners. Also, the notary customarily produces a statement of Adjustments and Disbursements to show clients exactly how their funds were used and the proration calculation. Interestingly, in the digital era notaries publish online and supporting and related papers, as well as invoices, can be drafted using notarial software such as Pro-Cardex.
Additionally, all notaries’ contracts have minutes. Thus, a mention on a contract stating ‘under minute number SIX THOUSAND TWO HUNDRED FIVE (6 205) of the original minutes of the undersigned Notary’ means this particular notary has processed six thousand two hundred five contracts. Moreover, a notary remains in possession of all contract originals, which even postmortem are transferred to the Court, while clients and partners receive certified copies. A true or certified copy of the original must contain the notary’s seal, an inversed title page, a stamp or notice with a descriptive statement and, of course, the notary’s signature. Amazingly, these steps transform a simple piece of paper into a document guaranteeing ownership rights to properties, financing agreements and resolutions.
In such tasks, the professional title holders are helped by paralegals and legal assistants. The correlated industry harbors its own job board, such as ParalegalJobs, and recruitment agencies such as Montpetit Group, while related programs are available at many colleges, whereas certain prelaw and graduate paralegal degrees are offered through universities.
Although notaries make decent salaries and many run their own businesses, notaries may actually lose money on certain files just to keep demand high. Of course, business practice varies from one notary to another. The best developmental avenues for notaries and notary firms seem to be solid networking and partnerships, particularly with banking institutions, mortgage and real estate brokers, and contractors.
She decided to issue a formal denial through a public notary in the city, but by then it was too late. Nobody believed her. (Mario Gonzalez). First things, first! Banner : NeuroscienceTv, best banners for the best price
See also :
- Chambre des Notaires du Québec