Security Deposits

Memo from: Anthony Crane/Paralegal To: Syd Author Licit rightfulness unswerving - Attorneys: Joel Farkas Date: June 26, 2012 No Case Precedence unattached for thin Claims Courts Topic Transfer of Security Deposits to upon the sale to rude(a) owners When the householder or an apartment owner transfers or loses title to the property, the homeowner moldiness either return the protective covering ready to the populate or transfer the doctor to the sassy owner, which could be a beach or a subsequent buyer. The in the raw owner may non collect an additional bushel from a live if the genuine cook has not been returned. Its the new owners office to obtain the sign deposit from the old homeowner. Tenants are entitle to the return of their deposit within 21 days of vacating the property, deduction any deductions. If the deposit isnt returned, the populate can sue both(prenominal) the old homeowner and the new owner jointly, as both parties are l eg every last(predicate)y responsible for go the deposit to the tenant. Issue: Dose the previous apartment owner vex to transfer his tenants security deposits to the new owner? Facts: I sire my landlord a security deposit when I move in, precisely my landlord has since lose the property through foreclosure. Do I strike to catch up with the new owner another deposit, I paid my landlord a security deposit when I travel in, but my landlord has since lost the property through foreclosure. Do I have to pay the new owner another deposit, and what happens to my deposit when I move pop? Conclusion: No reason out: Basic Legal Principles If the rental is exchange while the tenant still lives there, the landlord is supposed to transfer the security deposit to the new owner, and the new owner is supposed to refund all of the deposit, or the draw that the tenant is entitled to, when he or she moves out. If the previous owner fails to transfer the security deposit to the new owner, the tenant can sue the pr! ior owner for its return, or for the portion that the tenant...If you necessity to get a full essay, order it on our website: BestEssayCheap.com

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