Many of life's most important transactions must be notarized. Some people only notarize a few documents in their lives and are unfamiliar with the purpose... they wonder: why does a stranger need to watch me sign a document?
Notarization serves three purposes:
Notarization is a system to prevent fraud and notary publics are front line officers in that battle.
A Power of Attorney (POA) is a frequently notarized document. When executed, a POA gives someone the legal authority to make decisions on your behalf. Many private wealth managers require a POA to manage your money. By requiring notarization, a financial institution can be certain their client actually signed the document under their own free will. And, as a consumer, you are also protected by notarization. Because someone must identify themselves when visiting a notary, it is an important safeguard to ensure someone cannot fraudulently grant power of attorney on your behalf. This same system ensures someone cannot take out a mortgage in your name or execute a will in your name. It gives both financial institutions and government recording agencies confidence in the validity of documents