Notaries must avoid Conflicts of Interest

Notaries must avoid Conflicts of Interest

If you want to become a Notary in New York, you need to understand that as a notary public, you are regulated by New York Law. Consequently, you are duty-bound to conduct ourselves in an honorable manner. So, notaries must avoid conflicts of interest. Therefore, when a conflict of interest does arise, we should not notarize the document.

In an effort to assure we don’t encounter a potential dispute; we need to be familiar with the ethical standards for notaries. Let’s face it. We hold a very special post with our given state. So, we should not forget that we are party to some very personal information. You can review the New York Notary License law by visiting the New York Department of State. So, what is a conflict of interest?

So, what is a conflict of interest?

Well, if you notarize a document in which you have interest, or if you have a potential benefit, you may have a conflict of interest. A conflict of interest occurs when your personal interests could influence your decisions or actions. This situation compromises your impartiality, potentially leading to biased judgments or actions. As such, it creates a benefit to the individual at the expense of their responsibilities or the organization they represent.

Here are some examples.

1. You are a party to the document
2. You have potential financial gain from the document
3. You have potential material gain from the document. Such as, land, personal property, etc.
4. Providing notary service for a family member. This gets tricky. In New York State, notaries are NOT disqualified from notarizing an instrument based on family relationship. Other states do. In any case, if your state allows it, be very careful in this area.
5. Accepting any gift related to a notarization you may have done, or about to do.

Yes. Notaries must avoid conflicts of interest. Most often, the simple use of common sense can steer us in the right direction. If we commit to operating in an ethical manner we can usually avoid any chance of being involved in a conflict of interest. You will find that some documents are more commonly notarized than others.

Conclusion

Finally, if even a slight indication of potential conflict exists, the answer is simple. Suggest another notary. Conflict averted! You may want to watch Professor Closen’s on Notary Ethics. As you can see, notaries must avoid conflicts of interest.

Certainly, you are welcome to visit our website and read our other blog articles. For example, Our Notary Discipline article highlights how a notary can get into trouble by not following a “best practices” approach. Remember that a New York Notary can be subject to liability.