A notary can serve as a witness for a security agreement, but this is not required for the agreement to be deemed valid. However, use of a notary is recommended to ensure that proof of contract validity is available in the event of a dispute. If a notary is not available, it is important (but still not required) to sign the agreement before a non-notary witness. Ideally, security agreements will be completed before both a notary and a separate, non-notary witness. Some creditors may refuse to complete security agreements if the debtor lacks a notary and/or witness.
Can't find what you are looking for?
Contact us here.