RIN Closings | Remote Ink-signed Notarizations
RIN or Remote Ink-signed Notarizations also known as a “hybrid” closing where the residential or commercial real estate purchaser or borrower executes certain documents using remote online notarization and other documents via paper and pen. The “wet inked” documents are then returned to the title company.
How does RIN differ from Remote Online Notarization (RON)?
Remote Online Notarization is a fully digital transaction. All of the documents are electronically signed and then the notary digitally signs, applies a digital notarial certificate, and then seals the digital documents. The signers to a RON transaction must be authenticated using a third-party verification process that is built into the platform.
With a RIN transaction, video conferencing is used so that the signers of a transaction personally appear before a notary. However, everyone “wet” signs certain documents such as the Note and/or Mortgage with the other documents being executed digitally, and the notary ink stamps the documents after verifying the identity of the signers.
If you have any questions about RIN closings, feel free to contact our team at 954-384-6168
RON Remote Online Notary
What is Remote Online Notarization?
Effective January 1, 2020, the Florida legislature passed a law, allowing for Remote Online Notarization (RON). Simply put, RON provides for the notary and the person verifying the content of a document to not be required in the same physical location. The signer of the document appears, via the use of audio-video technology, before the notary. This way both the notary and the signer are able to see and hear each other via the computer but do not need to be in each other’s physical presence. In order for a notary to be able to perform RON, (s)he must apply and undergo training pursuant to Florida Statute Sections 117.201 to 117.305.
What are the advantages of RON?
RON provides a tremendous option for how real estate closings are conducted in the State of Florida, especially now during the Coronavirus pandemic.
Instead of having a traditional closing in a conference room where all of the parties are present, you can now, provided that you have a laptop or smart phone, execute documents online remotely and have those documents notarized.
Should you be physically in another state and are closing on real estate in Florida, RON is an option for you as it allows for you to remotely video your closing and notarize your documents from your location as long as a notary is present at the time that you execute your documents online and the notary is able to confirm and validate that you executed your documents without any duress or coercion.
Perhaps you are unable to physically attend a closing due to your profession (if, for example, you are on call as a physician or you work a night shift) or you are unable to travel due to medical issues, the use of RON for a closing provides a helpful alternative.
In cases where you may have multiple signers to a closing where the signers are not all physically located within the State of Florida, all parties involved may sign at the same time using RON. This avoids any lag time in waiting for mail away packages to be sent and returned, and avoids the logistics of having multiple closers make arrangements to physically attend the closing in person.
Are there limitations to RON?
While RON should work throughout the world, at this point, it is really more of a domestic service for people within the United States as it is difficult for the technology currently to validate foreign credentials.
However, frequently we are able to nevertheless find alternative solutions using remote online notarization.
Should you have any questions regarding RON, or wish to schedule a RON closing, feel free to contact our team at Weston Title at 954-384-6168. Our team is here to make your closing the most convenient for you.
Weston Title & Escrow offers mobile closings! We can send a mobile closing notary or a mobile closing agent to your house or any location to execute your closing documents at your convenience.
At Weston Title, our mantra is “closings at your convenience.” Especially now, during the Coronavirus pandemic, our concern is for the safety and welfare of our clients, staff, and vendors. Mobile closings are an alternative to the traditional closing in an office setting where, instead, we go to you!
Mobile Closing Notary
Purchasing, selling, or Refinancing? We will meet you at a convenient location for you with the closing package and make sure that all the documents are reviewed, signed, and notarized prior to leaving you. Everything is conducted so that you have peace of mind.
For more information on mobile closings or to schedule a mobile closing, please contact us at 954-384-6168 Our team at Weston Title is here for you!
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