Different Laws for Different States

• Each state has its own laws regarding receipt and release, with some states prohibiting them and others requiring the form. Therefore, the procedure of delivering a signed and notarized release and receipt varies from state to state. This also addresses the question of when a receipt and release is a valid contract.
  
  

Signing and Notarizing

• In states that recognize receipt and release forms, the form may be handwritten, typewritten or computer-generated. But in all states, the form must be signed by the beneficiary and notarized. By signing the receipt and release, the beneficiary acknowledges that he accepts the terms indicated on the form.
  
  

Completing the Paper Trail

• By witnessing the signature, the notary public verifyies that the person signing is the person named in the receipt and release and has provided proof of identity. At the point of the notary's signature, a form indicating intent has been produced and executed. But that form is not legally satisfied until it has been delivered to the person requesting it.
  
  

Intent

• It has been argued in court that once the signature has been notarized, the intent has been indicated and the contract is valid. But if the issuer does not have a copy of the form, he cannot prove the intent. The form does not have to be mailed the day it was notarized in order to take effect. Communication of confirmation of signature through email, fax or telephone will begin the closure and, again, indicate intent.
  
  

Receipt of Delivery

• If, after notarization, the beneficiary changes his mind and decides not to file the form with the trustee or executor, the process must begin again. The notarization does not make the form enforceable. It merely indicates that at one point, it was intended to be legal. Intent is, however, arguable in court.
  
  If you have a signed and notarized receipt and release in hand, return it to the issuer in person, by certified mail or via an overnight mail delivery service as quickly as possible. Get a receipt of delivery as your proof that the receipt and release is now enforceable.