Notary Notes Magazine - DEMO - (Page 13)

NOTARY NOTES Affidavits Spring Into Action Against Trampolines n insurance company in Florida insists that any client who has a trampoline must obtain a notarized affidavit stating that the apparatus has been removed from the property. Otherwise, the homeowner’s insurance policy will be cancelled. A The Consumer Product Safety Commission estimates that more than 92,000 children ages 2 to 16 were injured by trampolines in 2006, the last year complete data was available. “Some companies won’t write a new homeowner’s insurance policy because of a trampoline on the property,” Aronson added. “Other companies mention it in their policies while some don’t mention the coverage of trampolines at all.” And one insurance company “recognizes that trampolines are part of popular culture,” Aronson noted, and charge an extra $50 per policy. An affidavit is a voluntary, sworn and written statement declaring that the information the customer has provided is true. In this case, it’s the removal of a trampoline. The affidavit can be handwritten, typed or created on a computer. The actual wording can be simple: “I swear or affirm that the trampoline owned by the ABC family and located in the backyard of their property at (address) has been removed from said property as of (month, day, year).” Your signature and seal on the affidavit guarantees that the customer appeared before you and was properly identified. Have the customer swear or affirm that the statement is true and then have him or her sign the affidavit in front of you. Remember that the oath or affirmation you administer as part of the affidavit is not a separate notarial act. Do not charge a separate fee for it. It’s not up to you to determine the truthfulness of the customer’s statement on the affidavit. It is the customer’s responsibility as to the accuracy of the statement. Make the correct register notation and collect your fee. Your job is finished. Injuries from mishaps on trampolines are one of the leading causes of visits to the emergency room in the United States. This is why insurance companies don’t have a favorable view of the popular devices. “Trampolines are known as attractive nuisances in the insurance industry,” said Tod Aronson, President of E. R. Munro and Company, a bond and insurance agency located in Pittsburgh, PA. “An attractive nuisance is something on the property that attracts children but also endangers their safety. Unfenced swimming pools are another example of attractive nuisances.” Should an experienced signing agent like you be covered by Signing Agent Errors & Omissions (E&O) Insurance? Absolutely. Here's why. . . Notary E&O Insurance only covers the notarizing you do in a signing. It does not cover your signing agent duties, such as reviewing the documents with the borrower, calculating rescission dates and returning the date-sensitive loan package. Lawsuits against signing agents are becoming more common. Even if you are innocent, you could still face significant legal expenses for defending yourself in a lawsuit, and the company who hired you is under no obligation to help you. As an independent signing agent, you have unlimited personal liability for losses caused by your errors during the signing. PAN has partnered with CNA Surety to offer Pennsylvania Signing Agents the first and only Signing Agent E&O Insurance available. To qualify: You have been a notary for at least six months. You have taken Signing Agent Training. You are a member of a professional association. You keep a register. For more information, go to PAN's Web site at www.notary.org or call a PAN customer service representative at 800-944-8790. www.notary.org June/July 2008 | Notary Notes | Page 13 http://www.notary.org http://www.notary.org

Table of Contents Feed for the Digital Edition of Notary Notes Magazine - DEMO

Notary Notes Magazine - DEMO Contents From PAN’s Mailbox From the President’s Desk Notary Notes is Going Green PAN Can Help Member Businesses Complete All Appointment and Reappointment Tasks Before You Notarize CSR Handles a Wide Range of Customers’ Bond Questions PAN and Staples Work Together to Make it Easy for Members PAN Member Slowing Down (Well, Sort of) After 45 Years PA Recorder of Deeds Fees 2008 Notary 101: Protect Yourself Against Liability When Will You Need E&O? Sister of Mercy Appreciates PAN Attorney Knows Notary Law When it Comes to Venue To Keep or Not to Keep Copies Signing Up for Protection: Another Bill-and-Ralph Story Affidavits Spring Into Action Against Trampolines Pennsylvania Announces Notary Disciplinary Actions Help Us Prevent ID Theft The Electronic Notary: Electronic Notary Initiative Moving Slowly Seminar Schedules Know Your Forms: MV-44 Form MV-913 Revised for 2008 NASCAR Race Season Environmental Protection Publishes Final CARB Certification Regulations Old Editions of MV-4ST are Obsolete June 1

Notary Notes Magazine - DEMO

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