Utah · Closing fundsUtah good funds: when a title company can disburse cash, wires, cashier's checks and ACH

In Utah, escrow for real property transactions is handled by licensed title insurance producers through a separate trust account at a federally insured depository institution with a Utah branch, and money held in escrow isn't subject to the producer's debts and may be used only to fulfill that escrow once its conditions are met. A check may not be drawn, or money otherwise disbursed, from the trust account unless the segregated account holds a sufficient balance of collected and cleared money. Cash and wire transfers may be disbursed the same day they are deposited. Cashier's checks, certified checks and official checks drawn on a federally insured institution, checks on a licensed broker's trust account, checks on another title producer's trust account, and a personal check of no more than $500 per closing may be disbursed the same day if received from a single party and the total of those instruments for the transaction is less than $10,000. ACH deposits may be disbursed the same day if the funds stay uniquely designated and traceable, aren't commingled, are available in the trust account and can't be unilaterally reversed by the consumer, and Fedwire deposits or deposits through a funds transfer system of federally insured institutions the same day. Anything else may be disbursed within the Expedited Funds Availability Act time limits or once the bank confirms final settlement (Utah Code §31A-23a-406).