Difference between revisions of "Good Funds in Nebraska"
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==Overview== | ==Overview== | ||
==Sources== | ==Sources== | ||
| − | ==Wet or Dry Settlement==Wet==Definition==Good funds shall mean: | + | ==Wet or Dry Settlement== |
| + | Wet | ||
| + | ==Definition== | ||
| + | Good funds shall mean: | ||
(a) Lawful money of the United States; | (a) Lawful money of the United States; | ||
(b) wired funds when unconditionally held by the real estate closing agent or employee; | (b) wired funds when unconditionally held by the real estate closing agent or employee; | ||
(c) cashier's checks, certified checks, bank money orders, or teller's checks issued by a federally insured financial institution and unconditionally held by the real estate closing agent or employee; or | (c) cashier's checks, certified checks, bank money orders, or teller's checks issued by a federally insured financial institution and unconditionally held by the real estate closing agent or employee; or | ||
| − | (d) United States treasury checks, federal reserve bank checks, federal home loan bank checks, State of Nebraska warrants, and warrants of a city of the metropolitan or primary class. NE Rev. Stat. 76-2,121(2).==Requirements==A person acting as a real estate closing agent must have received | + | (d) United States treasury checks, federal reserve bank checks, federal home loan bank checks, State of Nebraska warrants, and warrants of a city of the metropolitan or primary class. NE Rev. Stat. 76-2,121(2). |
| + | ==Requirements== | ||
| + | A person acting as a real estate closing agent must have received ?good funds? that are available for disbursement at the time of closing a real estate transaction, except that up to $500 can be disbursed from other than good funds. NE Rev. Stat. 76-2,122(2)(a). | ||
| + | ===Exceptions to Requirements=== | ||
| + | Up to $500 can be disbursed from other than good funds. NE Rev. Stat. 76-2,122(2)(a). | ||
| + | ==Cross-References== | ||
* [[Nebraska]] | * [[Nebraska]] | ||
* [[Good Funds]] | * [[Good Funds]] | ||
Latest revision as of 05:50, 4 September 2018
Contents
Overview
Sources
Wet or Dry Settlement
Wet
Definition
Good funds shall mean: (a) Lawful money of the United States; (b) wired funds when unconditionally held by the real estate closing agent or employee; (c) cashier's checks, certified checks, bank money orders, or teller's checks issued by a federally insured financial institution and unconditionally held by the real estate closing agent or employee; or (d) United States treasury checks, federal reserve bank checks, federal home loan bank checks, State of Nebraska warrants, and warrants of a city of the metropolitan or primary class. NE Rev. Stat. 76-2,121(2).
Requirements
A person acting as a real estate closing agent must have received ?good funds? that are available for disbursement at the time of closing a real estate transaction, except that up to $500 can be disbursed from other than good funds. NE Rev. Stat. 76-2,122(2)(a).
Exceptions to Requirements
Up to $500 can be disbursed from other than good funds. NE Rev. Stat. 76-2,122(2)(a).
