Public Access - Suffolk County Government Homepage Go With A Premier Mortgage Company That Gets The Deal Done Now more than ever, it pays to get your home loan from a trusted leader.With roots dating back to 1938, We periodically make minor revisions to the Legal Documents, typically to comply with changes to applicable laws.Some check writers consider dating the check in the future, or postdating the check.
Unless you are 100 percent sure that the tenant can be trusted and that there will be funds to cover the check when it is ready to be cashed, it may not be a good idea to accept a postdated check.
The Uniform Commercial Code states that a bank may honor a postdated check provided the check is otherwise safe to cash and the account owner has not provided the bank with "reasonable notice of the postdating.
This means that a tenant may legally postdate a check to you and that you may even be able to cash it when you receive it, but if the bank has been notified of the postdating you will have to wait until the date listed on the check instrument before you may receive the funds.
Thus, only when the maturity date of the transaction has arrived will the payee or depositing bank be able to obtain the decryption key that will decrypt the encrypted information necessary to complete the transaction.
Since the encrypted information can not be decrypted until the date associated with the encryption key, the financial transaction can not be completed until such date.