Real estate industry has witnessed tremendous growth in the recent past.
An electronic signature is a new technology that has played a vital role in the fast growth of the real estate industry. Below are the digital signature requirements for realtors.
1. The clear intent of signing
A clear intent should exist for any document to get a sign. The signer should not get forced to sign using whatsoever means including threats to sign. In case the one signing indicates they did not have a clear intention to sign, then such a digital signature becomes invalid and cannot get enforced in a court of law. Realtors should, therefore, ensure that any party that signs their documents with a digital signature has a clear intent to sign.
2. Consent to doing business electronically
Any digital signature of any realtor must results from the business that both parties have agreed to conduct online. Consent to do business electronically remain a crucial consideration for any court to decide whether the electronic signature is valid and legally binding. In circumstances where there is no consent to do business electronically any electronic signature from such conditions is considered invalid hence not enforceable in any court of law. Every realtor must, therefore, ensure they have agreed to do business online before going for a digital signature.
3. Electronic signature attribution
Each of the esign on real estate contracts must have a distinct signature attribution. In this, the electronic signature should be attributable to given valid circumstances that get connected to the signing of the particular document. Correct attribution will help any legal institution know that the electronic signature is not as a result of force or crooked business means. Every realtor should, therefore, ensure that their digital signatures have a transparent signature attribution.
4. The electronic signature should be unique
Any real estate e signature should be unique to the particular parties involved in signing the documents electronically. The uniqueness of an electronic signature makes it possible to enforce such a signature in a court of law. Such uniqueness means that it is only one individual who undertook the business and hence there are no two individuals who were involved in the transactions. Additionally, uniqueness of an electronic signature means the signature is for one specific individual making the transaction more secure. No other third party can interfere with such a deal since the signature is unique to one individual.
5. Association of the electronic signature with the record
Any electronic signature is required to have a distinct relationship with other electronic signature real estate documents. Such an association is vital to classify a given electronic signature as legally enforceable in any court of law. A clear association between the electronic signature and the particular record makes the electronic signature legally binding in any legal court. In such a case such an electronic signature remains valid unless the association between the document and the electronic signature becomes questionable.
6. The electronic signature document should get retained
Any document that has an electronic signature should get retained for future reference. Many digital signature solutions for realtors allow the signers to download the electronically signed document. Some will request for the signer's email and email a copy of the signed document to them. Features that enable any digital signature document to become retained helps in providing evidence even in a court of law about digital signing of any material.
7. The digital signature must be valid
Any digital signature for any realtor should have ways in which one can verify it. Signers can ensure the documents that they are signing should have specific procedures that can prove such digital signatures. Clear verification procedures make it possible to ensure that the particular digital signature is secure and no one has interfered with it. The integrity of any digital signature is vital for any digital signature to become legally enforceable in any legal institution.
8. The signer of the digital signature should have total control over the digital signature
Signers of digital signatures should have a hundred percent control over the digital signature. In such a case the signers cannot say that they were under pressure to sign a given document. Apart from that, the signers will not complain that a given third party did threaten them to sign the document. One can enforce such a digital signature in any court of law without fear of anything.
9. Any realtor digital signature should have a link with the data in the document
The digital signature should have a transparent link with the data in the document. In such a case one becomes sure of the integrity of the report. Linking of the signature with the paper ensures that ones the data interferes with the signature also becomes invalid. In such circumstances when a signature gets invalidated the signer does not become liable in any court of law unless the signer signs the document again.
10. Content of the digital signature should be legal
Any document that bears a digital signature should take legal information. For example, one should not sign a material that has a contract that promotes drug trading and other illegal activities. Any digital signature appended to such documents is not enforceable in any court of law and is harmful to the social welfare of the society. Signers of such papers will get arrested whenever the government catches up with them. Realtors should, therefore, ensure they enter in legal transactions.
Every digital signature for a realtor should have some features. You now know the critical elements of any digital signature for realtors. Read carefully and implement.