POWERS OF THE
Powers of the notaries are determined by the Law on the Notaries, but the powers of the notaries with regard to the notarial deeds can be established in other laws as well.
Legal transactions requiring mandatory notarization:
1- Legal transactions governing property relations between the spouses, as well as persons living in domestic partnership, or de facto cohabitation.
2- disposal of the property owned by minors or persons without legal capacity;
3- legal transactions involving a pledged obligation as a gift where lack of the notary deed is compensated by the enforcement of the said obligation;
4- legal transaction involving transfer/conveyancing or acquisition of ownership or other property rights over the real estate;
5-founding acts of the commercial (business) companies (Article 68 of the Law on Notaries).
Notarized instruments, notary certifications and notary verifications are notarial deeds and have a character of public documents. Notarized instruments have the full probative value or power of evidence of a public document on depositions given before the notary.
Notary certification and verification have the power of evidence of a public document on facts witnessed thereby. Notarization of deeds on legal transactions related to transfer or acquisition of property and other proprietary rights (security interests) on real estate items:
- Sales agreement, legal transactions on transfer or acquisition of property or other proprietary rights (security interests) on real estate items;
- Gift agreements;
- Agreements on exchange of real estate;
- Easement establishment deeds;
- Mortgage (lien) establishment contracts on real estate items;
- Preparation of powers of attorney and other deeds and documents related to the above legal transactions. Notarization of deeds on legal transactions pertaining to inheritance law:
- Life care contracts;
- Property assignment and distribution contracts;
- Statements of inheritance;
- Last wills or testaments.
Notarization of documents related to legal transactions in family law area:
- Marriage agreements;
- Matrimonial property division agreement;
- Paternity/maternity recognition statements.
Notarization of deeds on legal transactions in civil law area:
- All the contracts can have the power or value of an enforceable deed, which means that the parties can receive self-executory engrossed copies of the original and initiate judicial enforcement process without resorting to civil action before the court whenever it comes to the agreed performances involving money or other changeable things or securities.
If a pre-condition agreed upon has been met, a notary issues a self-executory engrossed copy of the notarized deed which is then directly enforced by the court as such a notarized agreement is treated as a final court decision in the enforcement proceedings.
Commercial law: Notarization of founding acts:
- Founding acts (contracts and decisions) on founding of commercial companies, institutions and other entities to be entered into the court register;
- Notary verification of the signature on founding documents of the sole proprietor limited liability companies with founding capital of 1 BAM
Notary certification of articles of association and modification of founding documents:
- articles of association and its modification;
- Modification of founding documents due to the status changes and data changes having impact to legal transactions (change of the founder, increase or decrease in capital, change of the seat, name or business etc.);
- in cases involving modification of founding documents and Articles of Association, notary minutes have the character of a public document, which prevents disputes between the company members
Notarization of the documents on legal transactions pertaining to commercial law:
- Commercial law contracts can have the value of a self-executory document, which means that the parties can get an engrossed copy of the original and initiate a direct court enforcement without resorting to a dispute before the court. If a pre-condition agreed upon has been met, a notary issues a self-executory engrossed copy of the notarized deed which is then directly enforced by the court as such a notarized agreement is treated as a final court decision in the enforcement proceedings.
Commercial companies have recognized the importance and the role of notarized contracts including their agreement to the direct forcible enforcement clause where it is possible (it is about performances involving money or other changeable things or securities), as in this case there is no need for court proceedings to prove the monetary obligation of a party to contract, but the notarized instrument represents an order of execution and is directly enforceable.
Verification of photocopies/transcripts of all kinds of documents (ID card, passport, excerpts from public registers, certificate, diploma etc.)
1-verification of transcripts (Article 88)
2- verification of extracts/excerpts from trade registers or business books ( Article 89)
3-signature verification/legalization (Article 90)
Signature verification (legalization) on private documents such as:
- Business premises or apartments lease agreements;
- Various depositions or statements;
- Motor vehicles purchase agreements Issuance of certificates such as:
-Certificate on the time of presentation of a certain document (Article 91)
-A person’s life certificate (Article 92)
-Certificate on power of attorney/representation (Article 93)
- Certificate on other facts from the registries (Article 94)
- Certification of the conclusions of a legal body (Article 95)
-Other facts certification (Article 96)
Activities commissioned by the court or the authorities,
1-inventory listing and sealing in cases of bankruptcy property and bankruptcy estate (Article 67)
2-estimation and public sale of chattels and real estate in non-contentious proceedings in particular in cases involving voluntary sale.
3-distribution of sales price in executive proceedings.
1-safekeeping and handing over the documents (Article 107)
2-safekeeping of money and securities (Article 109)
Parties can demand notarization even in legal transaction for which such notarization has not been legally prescribed by Article 68 paragraph 1 of the Law on Notaries when they have the interest and wish the notarized instrument to be an enforceable document (when the parties agree for a notarized instrument to a direct forcible enforcement).