Thursday 15 October 2015

NOTARY


Notary:
Notary is person appointed by the Central Government or State Government under Notaries Act 1952. Central Government may appoint Notary for the whole or any part of India. Likewise the State Government may appoint a notary for the entire or for any part of the State. He is a public officer.

Functions of Notary:
The appointment, functions of Notary is governed by The Notaries Act 1952.
There are various functions of a Notary. We shall confine here to functions which are more relevant to the common public.

1. To verify; authenticate, certify or attest the execution of any instrument. The act refers to the instrument. The word instrument is defined in the Act, as every document by which any right or liability is purported or purports to be, created transferred, modified, limited, extended, suspended, extinguished or recorded. So every document is not an instrument, unless it effects right or a liability. Each word: verify, authenticate, certify, attest, have different meanings. Authenticating means, the notary has assured himself of the identity of person who has signed the instrument as well as to the fact of execution. Certify means to testify. Notary is bound to make entry of notarial act of certifying the copy of the document as true copy of original. Attest means to bear witnesses to.

2. To administer oath to, or take affidavit from any person.

3. To translate and verify the translation, of any document from one language into another.

4. To act as commissioner, to record evidence in any civil or criminal trial if so directed by the court or authority.

5. To act as arbitrator, mediator, or councilor if so required.

6. To do any other act this, may be prescribed.

When a Notarial is completed?
Every Notarial act has to be done under his signature and Notary seal with Registered No. and date.

Whether Notary Public has to ensure that proper stamp duty is paid on instrument?
Before doing any Act of Notary, it is the duty of the Notary to ensure that the proper stamp duty is paid, if not he may impound it under Section 33(1) of the Stamp Act. Apart from the regular stamp duty, the act of Notary attracts additional stamp duty under Article 42 of Indian Stamp Act and Article 36 of Karnataka Stamp Act, which is Ten Rupees.

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