The fiduciary role of the notary

Abstract

In writing this term paper, the main emphasis was placed on the fiduciary role played by the notary in the exercise of his office. To start off with Chapter 1 gives a brief historical timeline as to the evolution of the profession throughout the years, tracing the profession back to its origins. Subsequently the responsibilities of the notary in the legal sphere today, according to Chapter 55 of the Laws of Malta, are explained in a detailed manner. In addition, this term paper also covers the dual function of the notary which corresponds to the dual set of interests that are protected by notarial acts, these being the public interest and the private interests of the parties to the deed. As all legal professions, including the notary, may be in fiduciary relationships with their clients, examining and understanding fiduciary relationships, together with their respective duties and obligations is essential. Thus, Chapter 2 focuses on the fiduciary in general and his obligations towards the person who entrusted him such duties. Lastly, Chapter 3 focuses on the interplay between the concept of fiduciary obligations and the notarial profession in the performance and execution of his functions. There are essential principles, namely certainty, impartiality and independence which underpin the notarial profession and which are intrinsically tied to it. In conclusion, the aim of this Term Paper is to provide knowledge and a clear understanding on matters concerning fiduciary obligations and duties attached to the notarial profession, in order to uncover another facet of this profession and thereby contributing a better understanding of the true role of the notary.