Are you complaint with Georgia’s revised Good Funds Law? We are! In 2012 the Georgia Legislature revised the Georgia Good Funds Law to require either the lender or a Georgia licensed attorney settle and disburse any Georgia, lender-funded, residential real estate transaction. Our attorneys and staff can close on any transaction, anywhere in Georgia, in compliance with these new requirements.
Georgia law (O.C.G.A Section 44-14-13, the "Good Funds" law) requires all funds to be received by the closing attorney in excess of $5,000.00 be “good funds”. Our firm policy is as follows:
- We will accept personal checks up to $2,000.00
- For amounts between $2,000.00, up to and including $5,000.00, a Cashier’s Check issued by a local or national bank or credit union will be accepted.
- For amounts more than $5,000.00 our firm requires funds be transmitted to us by wire.