For additional questions, comments or concerns please contact the DOI directly at:
Indiana Department of Insurance
ATTN: Title Division
311 W. Washington St., Ste. 103
Indianapolis, IN 46204
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:
- United States currency (cash - Meridian Title Corporation’s policy is to not accept cash for security reasons.)
- Wired funds unconditionally and irrevocably credited to the escrow account of the closing agent
- 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
- A check drawn on the trust account of a licensed real estate broker
- A personal check NOT GREATER THAN $500.00
- A check issued by the state, the U.S., or a political subdivision of the state or the U.S.
- A check drawn on the escrow account of another closing agent
- A check issued by a farm credit service
- 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.