North Carolina Statutes

Chapter 45A Good Funds Settlement Act

  • § 45A-1   Short title
    This Chapter shall be known as the Good Funds Settlement Act. (1995 (Reg. Sess., 1996), c. 714, s. 1.)
  • § 45A-2   Applicability
    This Chapter applies only to real estate transactions involving a one‑ to four‑family residential dwelling or a lot restricted to residential use. (1995 (Reg. Sess.,...
  • § 45A-3   Definitions
    As used in this Chapter, unless the context otherwise requires: (1) "Bank" means a financial institution, including but not limited to a national bank, state...
  • § 45A-4   Duty of settlement agent
    (a) The settlement agent shall cause recordation of the deed, if any, the deed of trust or mortgage, or other loan documents required to be...
  • § 45A-5   Duty of lender, purchaser, or seller
    (a) The lender, purchaser, or seller shall, at or before closing, deliver closing funds, including the gross or net loan funds, if applicable, to the...
  • § 45A-6   Validity of loan documents
    Failure to comply with the provisions of this Chapter shall not govern the validity or enforceability of any document, including a deed or any loan...
  • § 45A-7   Penalty
    Any party violating this Chapter is liable to any other party suffering a loss due to that violation for that other party's actual damages plus...