Good Funds for Settlement in Indiana

Applies to Residential and Commercial Transactions

Acceptable Good Funds when $10,000 or more: wired funds that are unconditionally held by and irrevocably credited to the escrow account of the closing agent

Acceptable Good Funds when Under $10,000.01:

1. United States currency (cash - Meridian Title Corporation’s policy is to not accept cash for security reasons.)
2. Wired funds unconditionally and irrevocably credited to the escrow account of the closing agent
3. Certified or cashier’s checks that are drawn on an existing account at a bank, savings and loan association, credit union, or savings bank chartered under the laws of a state or the United States
4. A check drawn on the trust account of a licensed real estate broker
5. A personal check NOT GREATER THAN $500.00
6. A check issued by the state, the U.S., or a political subdivision of the state or the U.S.
7. A check drawn on the escrow account of another closing agent
8. A check issued by a farm credit service
9. A check deposited and held in escrow account of closing agent for AT LEAST (14) calendar days before the date of closing and less than $10,000.01.

Not accepted: Money orders and/or drafts in any amount

Earnest money given must also comply with the Good Funds statue as stated above, regardless of the timeline for closing.