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WHAT is a notary deposit

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What is a notary deposit?</a>

The notary as a part of law appeared in the 7th century.

However, this industry developed very specific, becoming a highly respected business, then not very much.

Probably, it is in connection with this that notaries to thisDay carefully protect their business, and therefore some even very specific concepts, such as the "deposit of a notary", the general public are not known and not understood.


A notary by type of activity often appears in theThe role of an intermediary between the will and executors or heirs, as well as between the creditor and his debtor. At the same time, often the mediator is called upon to resolve within the framework of duties and legal field a conflict that may be between the specified persons.

Someone else's money

For example, two citizens enter into a contract(Although not necessarily) under this agreement, in the event of the borrower's failure to fulfill the terms of the contract in time, the remainder of the debt is charged with a penalty, i.e. money penalty. After some time, the creditor gets into an accident and loses his legal capacity (is in a coma, suffers from amnesia, etc.), he can not follow orders for a loan he once issued in this state, but the debtor's obligations are not withdrawn, which means that the borrower In a way it is obliged to return the money exactly to the creditor and at the appointed time. The solution is to contact a notary.
In this situation, the debtor contributes the amount of debt toA deposit of a notary by providing a loan agreement and an application stating that the creditor is in an incompetent condition, prescribes the amount of the debt as of the date of the application and reports that it transfers exactly this amount as a payment for a notary's loan for storage.

The deposit can be issued also in the event that the creditor is deliberately hiding from the borrower or his location is not known.

The notary accepts the documents and the amount thatIs sent to a special bank account, a note is made on the loan agreement that the obligations of the creditor are executed in full or in part (depending on the amount deposited) on that date. After that, the notary notifies the lender that the money was received from the borrower and stored on the deposit of the notary.
Thus, in practice, a notary deposit is a sum of money or securities that are taken by a notary from one person to transfer them to another in accordance with a certain contract.

Deposit storage

Notary services are not gratuitous, as a rule, the decorator receives a certain percentage of the total amount deposited as a reward.
To keep money at home, a notary does not have the right, because The law provides that from citizens it can only accept documents, everything else should be contained in the banking cell.

Get your money the lender can at any time before the expiration of their storage period, by presenting a loan agreement, a letter of notary and identity documents.

The notary has no right to dispose of the deposit,But the period of storage of amounts in the bank is not unlimited. The law stipulates that after the expiration of the period of storage of money that was not claimed by the creditor, the entire amount becomes the property of the state and transferred by the bank to the budget.

WHAT is a notary deposit Was last modified: June 21st, 2017 By Nyexeuvw
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