Resources > Glossary > Beneficial Interest

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

0-9  A  [B]  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  
Common Terms 1   Common Terms 2

Beneficial Interest

Phonetics: ben·e·fi·cial in·ter·est

Function: adjective

A Notary should avoid notarizing documents in which he or she has beneficial interest. Some notaries also are not sure if they may notarize their own signature. That would definately constitute beneficial interest and is illegal. However, if a notary notarizes a document for a family member which has nothing to do with any business pertinent to the notary, such as a Grant Deed concerning other parties, or insurance documents not concerning the notary in any way, then that would not constitute beneficial interest.

Definition 1:
Notarizing a document for a family member, or a document in which the notary is named, or has financial interest, could constitute beneficial interest.