Many individuals and businessmen seem to believe thta notarizing a document gives it special legal status.   Notarization actually accomplished one of two things depending on the type of notarization.  If the notarization is so a legal document -- such as a deed or mortgage -- can be recorded in the land records it contains an “acknowledgment”.  If it lacks that it wont be accepted for recording.  If the notarization is so that a statement -- such as an affidavit -- is a sworn statement then it contains a jurat along the lines of “Sworn to before me this _______day of _______ 20__”. 

A notarized acknowledgement of a document helps prevent later challenges by the signer that he or she never signed the document in question and that the document is a forgery, as do signatures of one or more witnesses who witnessed the signing of the document.

However, notarizing a badly drafted document, for example one that has an illegal rate of interest or other unenforceable provisions, doesn’t cure the document of underlying problems.