Good Funds in New Jersey

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.

Cross-References

• New Jersey
• Good Funds