In 2020, Colorado became the 26th state to sign Remote Online Notarization (RON) legislation into law. The law reshapes how notarial acts can be executed in the state, allowing the use of technology to complete a notarial act when the signer is not in the same location as the notary public. While certain industries, including real estate, were moving toward digital-first solutions before 2020, the COVID-19 pandemic compelled companies to expeditiously initiate strategies that modernize routine business transactions as a way to ensure relevancy and operational viability.
The Evolution and How It Works
Notarization is an essential fraud-deterrent process that ensures the authenticity of signers and documents by utilizing a system of vetting, certifying, and record-keeping. With RON, signers and notaries are able to get documents signed and notarized without the need for a physical meeting. Through live video chat on a secure technology platform, the notary will verify signer identities using authentication ID technology. Key documents are signed and stamped digitally, and the process is recorded using a secure audio video platform. The notary’s journal of remote online notarizations is also 100% digital.
Land Title to Offer RON in Early 2021
Land Title Guarantee Company continues to be at the forefront of this digital transformation by developing innovative, intuitive and secure ways to improve the closing experience. Starting in early 2021, we will be offering Colorado-based RON closings as an option. In the interim, Land Title will continue to conduct RONs using trusted third party providers.
Land Title is making key investments to ensure our Colorado-based notary teams are trained and credentialed for RON and that our RON-hosting technology platform meets all certification requirements. As always, our goal is to provide a seamless experience that surpasses all expectations.
As RON is rolled-out across Colorado, we will continue to keep our customers informed on the latest developments and updates.