[WSBARP] Notary rulemaking update

[Kary Krismer]

I started a bit of discussion in a different group about remote 
notaries.  Stewart is reportedly not even waiting for the new laws to 
kick into effect.

Personally I don't care if banks want to accept that--it would make the 
process easier and if it didn't work they should seemingly be able to 
rely on their title insurer (e.g. Stewart) to pay off the amount of the 
loan.  Outside of bankruptcy I'm not seeing how that would impact the 
debtor, and there the impact might be positive if it allowed funds to go 
to a non-dischargeable debt.  The downside might be a trustee selling a 
property when they wouldn't otherwise be able to do so.  But at least on 
the buyer's side the buyer should be able to control things.

My concern is more about the conveyance deed.  Title insurance might not 
be able to fully compensate the buyer, and the choice to use a remote 
notary would be entirely the seller's!  I'm toying with the idea of 
adding a clause on my buyer contracts prohibiting the practice, but in 
this market even something like that could lead to another buyer winning 
out.  My best hope is that the statewide forms drafters will react.

Kary L. Krismer
John L. Scott/KMS Renton
206 723-2148

On 2/13/2018 1:55 PM, Nicholas Pleasants wrote:
>
> Hello Real Property Listserv,
>
> As I am sure most of you are aware, the new rules for notaries are 
> going into effect on July 1, 2018. There was a helpful summary of the 
> main changes in our section’s newsletter, Summer 2017 edition, page 19.
>
> I am planning to attend the rulemaking meeting this Thursday to get 
> more clarity about the electronic notary process (e.g. I have clients 
> overseas that would love to do an electronic notary, but this seems to 
> conflict with the restriction that my notary license only works inside 
> Washington state). If anyone has specific questions about the 
> implementation of new RCW 42.45 and WAC 308-30, I would be happy to 
> take those to the DOL and report back. I’ve attached the agenda for 
> reference. And if some of you will also be attending, I will look 
> forward to seeing you there.
>
> Best,
>
> Nick Pleasants
>
> *Nicholas Pleasants*
>
> James Pleasants, P.C.
> 2300 130th Ave NE, Suite A-101
> Bellevue, WA 98005-1755
> (425) 615-7070 tel.
> (425) 497-0799 fax
> nick at pleasantslaw.com <mailto:nick at pleasantslaw.com>
>
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