e-closing

E-Closings: The Promise and the Reality

E-Closings: The Promise and the Reality

On July 1, 2012, Virginia became the first state in the country to authorize remote online notarization. There are roughly 23 states that have approved remote online notarization laws, yet despite becoming law in Virginia almost 8 years ago, it seems only recently we have been bombarded with articles and talks about the promise of E-closings. Most recently, a bill was introduced by U.S. Senators Mark Warner (D-VA) and Kevin Cramer (R-ND) called the “Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020 (the “SECURE ACT”). This SECURE ACT would permit immediate nationwide use of remote online notarizations.