Difference between revisions of "Good Funds in New Hampshire"
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==Overview== | ==Overview== | ||
==Sources== | ==Sources== | ||
| − | ==Wet or Dry Settlement==Wet==Definition==The funds provided by a mortgagee at a real estate closing must be in one of the following forms: | + | ==Wet or Dry Settlement== |
| + | Wet | ||
| + | ==Definition== | ||
| + | The funds provided by a mortgagee at a real estate closing must be in one of the following forms: | ||
(1) Cash; | (1) Cash; | ||
(2) Wired funds or electronic transfer; | (2) Wired funds or electronic transfer; | ||
(3) Certified check; | (3) Certified check; | ||
| − | (4) | + | (4) Cashier?s check, teller?s check, or treasurer?s check; |
(5) Checks issued by a governmental entity or instrumentality; | (5) Checks issued by a governmental entity or instrumentality; | ||
(6) Any transfer of funds by check or otherwise that are finally collected and unconditionally available to the settlement agent; | (6) Any transfer of funds by check or otherwise that are finally collected and unconditionally available to the settlement agent; | ||
(7) Checks or other drafts drawn by a state-chartered or federally-chartered financial institution; | (7) Checks or other drafts drawn by a state-chartered or federally-chartered financial institution; | ||
(8) Checks or other drafts drawn by a state-chartered or federally-chartered credit union; or | (8) Checks or other drafts drawn by a state-chartered or federally-chartered credit union; or | ||
| − | (9) Checks issued by an insurance company licensed and regulated by the department of insurance. NH Rev. Stat. Tit. 48 | + | (9) Checks issued by an insurance company licensed and regulated by the department of insurance. NH Rev. Stat. Tit. 48 ?477:52. |
| + | ==Requirements== | ||
| + | Must have good funds at or before closing. | ||
| + | ===Exceptions to Requirements=== | ||
| + | N/A | ||
| + | ==Cross-References== | ||
* [[New Hampshire]] | * [[New Hampshire]] | ||
* [[Good Funds]] | * [[Good Funds]] | ||
Latest revision as of 06:48, 4 September 2018
Contents
Overview
Sources
Wet or Dry Settlement
Wet
Definition
The funds provided by a mortgagee at a real estate closing must be in one of the following forms: (1) Cash; (2) Wired funds or electronic transfer; (3) Certified check; (4) Cashier?s check, teller?s check, or treasurer?s check; (5) Checks issued by a governmental entity or instrumentality; (6) Any transfer of funds by check or otherwise that are finally collected and unconditionally available to the settlement agent; (7) Checks or other drafts drawn by a state-chartered or federally-chartered financial institution; (8) Checks or other drafts drawn by a state-chartered or federally-chartered credit union; or (9) Checks issued by an insurance company licensed and regulated by the department of insurance. NH Rev. Stat. Tit. 48 ?477:52.
Requirements
Must have good funds at or before closing.
Exceptions to Requirements
N/A
