Difference between revisions of "Good Funds in Massachusetts"
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==Overview== | ==Overview== | ||
==Sources== | ==Sources== | ||
| − | ==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 | + | ==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]] | * [[Massachusetts]] | ||
* [[Good Funds]] | * [[Good Funds]] | ||
Revision as of 06:37, 4 September 2018
Contents
Overview
Sources
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
