Good Funds Settlement Act

At closing in North Carolina, the seller signs the deed transferring ownership to the buyer, along with a settlement statement and any required affidavits. Because NC is an attorney-closing state, a licensed attorney oversees the transaction. Sellers do not always have to be physically present — pre-signing is permitted — and proceeds are not disbursed at the closing table. Under the NC Good Funds Settlement Act, funds are released after the deed is recorded with the county Register of Deeds, which typically happens the same business day.