Difference between revisions of "Good Funds in New Jersey"
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==Overview== | ==Overview== | ||
==Sources== | ==Sources== | ||
| − | ==Wet or Dry Settlement==Wet==Definition==Good funds means: | + | ==Wet or Dry Settlement== |
| + | Wet | ||
| + | ==Definition== | ||
| + | Good funds means: | ||
(1) Cash; | (1) Cash; | ||
(2) Electronic wire transfer; | (2) Electronic wire transfer; | ||
(3) Certified, cashier's, teller's or bank check; | (3) Certified, cashier's, teller's or bank check; | ||
| − | (4) A NJ licensed attorney's trust account check or a trust or escrow account check from a NJ licensed insurance producer. NJ Stat. Ann. 17:46B-10.1b.==Requirements==Must have good funds at or before closing.===Exceptions to Requirements===Up to $1,000 can be disbursed from other than good funds. NJ Stat. Ann. 17:46B-10.1b.==Cross-References== | + | (4) A NJ licensed attorney's trust account check or a trust or escrow account check from a NJ licensed insurance producer. NJ Stat. Ann. 17:46B-10.1b. |
| + | ==Requirements== | ||
| + | Must have good funds at or before closing. | ||
| + | ===Exceptions to Requirements=== | ||
| + | Up to $1,000 can be disbursed from other than good funds. NJ Stat. Ann. 17:46B-10.1b. | ||
| + | ==Cross-References== | ||
* [[New Jersey]] | * [[New Jersey]] | ||
* [[Good Funds]] | * [[Good Funds]] | ||
Latest revision as of 05:53, 4 September 2018
Contents
Overview
Sources
Wet or Dry Settlement
Wet
Definition
Good funds means: (1) Cash; (2) Electronic wire transfer; (3) Certified, cashier's, teller's or bank check; (4) A NJ licensed attorney's trust account check or a trust or escrow account check from a NJ licensed insurance producer. NJ Stat. Ann. 17:46B-10.1b.
Requirements
Must have good funds at or before closing.
Exceptions to Requirements
Up to $1,000 can be disbursed from other than good funds. NJ Stat. Ann. 17:46B-10.1b.
