Indiana § 27-7-3.7-7 Disbursements; requirements for funds of at least $10,000 received
from single party

Indiana Statutes

§ 27-7-3.7-7 — Disbursements; requirements for funds of at least $10,000 received from single party

Indiana § 27-7-3.7-7

Title 27INSURANCE

Art. 7SPECIAL TYPES OF INSURANCE

Ch. 3.7Escrow Transactions in Real Estate Transactions

This text of Indiana § 27-7-3.7-7 (Disbursements; requirements for funds of at least $10,000 received from single party) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-7-3.7-7 (2026).

Text

(a)This section applies to an escrow account that contains funds that:

(1)are received from any single party to a real estate transaction; and

(2)in the aggregate are at least ten thousand dollars ($10,000).

(b)A closing agent may make disbursements from an escrow account described in subsection (a) in connection with a real estate transaction only if both of the following apply:

(1)All the funds described in subsection (a) are good funds.

(2)Any funds described in subsection (a) in excess of ten thousand dollars ($10,000) are good funds described in section 4(2) of this chapter.

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(a) This section applies to an escrow account
that contains funds that:
(1) are received from any single party to a real estate transaction;
and
(2) in the aggregate are at least ten thousand dollars ($10,000).
(b) A closing agent may make disbursements from an escrow
account described in subsection (a) in connection with a real estate
transaction only if both of the following apply:
(1) All the funds described in subsection (a) are good funds.
(2) Any funds described in subsection (a) in excess of ten
thousand dollars ($10,000) are good funds described in section
4(2) of this chapter.