Also known as: cashier’s check · cashiers check · cashiers checks · cashier check · cashier checks · cashier’s cheque · cashier cheque
Written by attorneys · grounded in primary & secondary sources — see below
An instrument drawn by a bank on its own funds and signed by an authorized officer, made payable to a designated payee on demand.
Connor Clark missed two mortgage payments to Central Dynamics. Two days before the scheduled foreclosure sale, he overnighted a cashier's check covering the arrears plus fees to the lender's headquarters. The tender satisfied the statutory requirements for curing a monetary default, so the foreclosure proceedings ended and the mortgage was reinstated.
Corinne Cho received a cashier's check from a will beneficiary in settlement of an estate dispute. She declined to cash the instrument and instead filed a contest action. Because the payee never accepted the cashier's check, the underlying obligation remained undischarged.
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Cashier's checks are expressly listed among the permitted methods. The statute also allows cash, certified checks, teller's checks, equivalent bank obligations, electronic funds transfers, and money orders when tendered in the correct amount after notice but no later than two days before a foreclosure sale.
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Yes, provided the tender meets all statutory conditions. The cure restores the obligor to the same position under the mortgage as if the default had never occurred, eliminating the grounds for acceleration and foreclosure.
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Yes. The statute requires performance of any other duty under the mortgage that would have been due absent default or acceleration. Failure to satisfy independent covenants such as insurance or use restrictions leaves the default uncured even if payment is tendered properly.
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No discharge occurs. The underlying obligation remains in force because acceptance is required before the instrument operates as payment.
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