Notarization, filing, & recordation of certain land records; duties of notary or settlement agent.

Notarization, filing, and recordation of certain land records; duties of notary or settlement agent; acknowledgement and satisfactory evidence of identity; requirements for commission or recommission of notary; clerk of circuit court to establish property alert notification system. Removes personal knowledge of identity from the methods by which a notary public, electronic notary public, or other person authorized by law to perform a notarial act may identify an individual for purposes of performing a notarial act such as acknowledgement or affirmation. Under current law, the identity of an individual for such purpose may be established if such individual is personally known to the person performing the notarial act or by a presentation of satisfactory evidence of identity, as defined by law. The bill also adds a requirement that, within the six months immediately preceding the submission of his application, a person applying for commission to be a notary public or electronic notary public, or an existing notary public or electronic notary public applying for recommission, complete a course of instruction developed and approved by the Secretary of the Commonwealth. The bill specifies that one hour of such course of instruction shall be on the topic of real estate fraud and financial exploitation of elderly persons and shall include training on current trends on such topics and on recognizing instances of such fraud or financial exploitation. The bill directs the Secretary of the Commonwealth to develop the curricula for such courses of instruction by January 1, 2027, and has a delayed effective date of July 1, 2027, for those provisions related to the requirement that applicants for commission and recommission complete and present proof of completion of such courses of instruction. The bill also requires any clerk of a circuit court that has established a network or system of electronic filing of land records to also establish a property alert notification system for owners of real property within the circuit court's jurisdiction. The bill provides that an owner who enrolls his real property into such property alert notification system may do so at no cost and that such system shall send notifications to such owner when documents affecting or purporting to affect the enrolled property are filed with the clerk's office. The provisions related to the establishment of the property alert notification system have a delayed effective date of July 1, 2027. Finally, the bill requires notaries public to keep a record of all notarial acts occurring on or after July 1, 2026, and to include in such record the form of satisfactory evidence of identification used to verify the identity of the principal and credible witnesses. Similarly, the bill requires settlement agents responsible for recording deeds, deeds of trust, or other documents relating to land records to obtain satisfactory evidence of identity of a seller of real property prior to settlement. This bill is identical to SB 316.