Good Funds in Massachusetts

Wet or Dry Settlement

Wet

Definition

Loan proceeds must be disbursed in the form of a certified check, bank treasurer's check, cashier's check, or by federal funds wire transfer. MA Gen. Laws Ch. 183 ?63B.

Requirements

Loan documents may not be registered in the Land Court until the lender transfers the net proceeds of the loan to the borrower, the borrower's attorney, or the lender's attorney. MA Gen. Laws Ch. 183 ?63B.

Exceptions to Requirements

N/A

Cross-References

• Massachusetts
• Good Funds