Today, let’s find out about the cost of notarization of IOU.
IOU is one of the strong authentication methods to secure legal enforcement rights as it is exchanged in the process of money lending contract. Here, the title of execution refers to being the source of compulsory execution of the debtor’s property by means of the law. 공증 비용
Usually, the executive title is based on the judgment issued when a civil lawsuit is filed and won. However, if the IOU is notarized, the same effect as the final judgment of the court is obtained. 좋은뉴스
For reference, the most common way to obtain an executive title outside of a lawsuit is to establish a mortgage (or mortgage) on the debtor’s real estate. The vast majority of items that come out of court auctions are also put up for sale without civil lawsuits based on these mortgages.
Anyway, if there is no collateral that can be set up as a mortgage, such as real estate, getting the IOU notarized is the surest and safest way to protect my credit.
The same IOU may be a notarial deed or a private deed.
First of all, let’s be aware that the cost of notarization of the IOU mentioned below presupposes a ‘notarial deed’.
In terms of cost, librarian certification is only half of the cost of drafting a notarial deed, but the legal effect is distinctly different.
Securing the executive title mentioned at the beginning is applicable only in the case of ‘notarial deed’ and not in the case of certified ‘private deed’. However, if the private certificate is certified, it can be advantageous for future lawsuits as it has strong evidence.
– Notarial deed: A document prepared by a notary public or a document legally prepared by a public official within his/her authority.
– Private deed: A document other than a notarial deed prepared by an interested party or a third party. (No executive title)
What is commonly referred to as public documents and private documents can be discussed within the above range.
As a result, going to get what we commonly call a notarization by a creditor or debtor writing an IOU is not strictly speaking notarization, but an act of ‘certifying’ a ‘private deed’, and although this can be strong evidence, it is forced on the basis of this There are no enforceable rights.
On the other hand, it can be said that debtors and debtors visit a notary together and write a document by a notary on the spot is to be notarized. Even if you personally exchanged IOUs, if you go to get a notarization, it can be said that the surest way is to create a new notarial deed.
IOU notarization fee.
Regarding the cost of notarization of IOUs, it is stated in the Ministry of Justice Ordinance No. 693 [Link] Notary Fee Rules. To quote this:
Notary Fee Rules Article 2 (Fees for Preparation of Deeds, etc. for Legal Acts)
Fees for deeds pertaining to juristic acts and fees for preparing deeds stating the will to be enforced compulsorily in promissory notes and checks pursuant to Article 56-2 of the Notary Public Act (hereinafter referred to as the “Act”) are stipulated differently in these Rules. Except where there is, the following distinction is made.
The purpose of the legal act or the value of bills and checks
charge
up to 2 million won
11,000 won
up to 5 million won
22,000 won
up to 10 million won
33,000 won
up to 15 million won
44 thousand won
In case of exceeding 15 million won
3/2,000 of the excess amount shall be added, but shall not exceed 3 million won.
The above fee amount was last revised on February 5, 2010, and there is a possibility that the fee level will increase in the future. Currently, notarization offices are clamoring for excessively low fees.
However, since most cases of notarization are simple documents such as IOUs, it is personally questionable whether more fees are needed as they say.
For reference, in the case of librarian authentication, half of the above fee will be received. The cost is cheaper because it checks and certifies the document rather than creating it.
Where is the notary?
Notarization can be obtained from a law firm that has received permission to install a notary office or a notary public joint law office. (Judicial scrivener X)
Notary public offices are not easy to find around you, but if you go near the court, you can easily find them.
For reference, notarization is not something that can be obtained only by these law firms, but it is a job that public officials and quasi-officials can do, such as appointed notaries and other notaries, so you can inquire at courts.
Notary fees are cheaper and more expensive as the same amount is applied according to the fee rules everywhere, and this rarely happens, so there is no need to compare shopping (?).