If I left a deposit on my duplex and the landlord sold the duplex, who pays me my deposit back when I leave?

Question

So I paid a move-in deposit on my duplex and my landlady ended up selling the duplexes... I just wanted to know who is responsible for giving me my deposit back after I move out - the new landlords or the old one?

I forgot to mention I am no longer on contract. It expired a while back and I'm month by month right now - does that matter?

Answer 1

You will almost certainly find that in your original contract it will state that the "Landlord" includes all successors to the named Landlord in titles and deeds. This should be clarification enough. (If it doesn't, I would question whoever drew up the document as this is pretty standard text) Regardless of whether it does or not, your new Landlord will be responsible for returning the deposit at the end of the tenancy.

It does not matter at all that you are out of contract, this simply means that you are now under a statutory periodic tenancy which continues under the same terms and conditions as the original contract.

Answer 2

The old landlord should have transfered the money (which
is supposed to be in an interest baring account) to the new
landlord.

You might want to confirm this with the new landlord, since
sometimes people forget.

However, the lease is a contract that was taken over by the
new landlord at the time of the sale. That person still must
adhere to the terms of the lease.

The exception is if the lease was prematurely terminated
(with both the old landlord and your signatures). In that case,
the security deposit should have been turned over to you
at that time (with interest).

Then you should have signed a new lease with the new
land lord and he or she would have then required a new
security deposit.

In most cases, however, the tenant doesn't have to sign
anything and the account simply changes hands. Banks
know all about this (this isn't the first time this has happened).

Answer 3

The new owner. The new owner must also keep the deposit in an interest bearing account (although it's not much interest) while it is being held.
When the property transferred, the new owner is legally bound by all covenants and terms of your lease, meaning they cannot raise your rent or modify any terms of the lease without your written approval. If this is done right, the entire process will be silent to you and you will get the deposit back, normally, within 30 days of vacating the unit if it is done under the terms of the lease.
This is regardless of the prior owner paying the new owner the your security deposit money. If your original lease converted to month to month after the fixed period, then you are OK as is.
In other words, no worries.

Answer 4

Chuck was right, the old landlord should have turned the deposit and the obligation to return it, minus any damages, to the new landlord.

You should confirm with the new landlord that he is aware of the deposit, and the amount.

Answer 5

New landlord since he got that money from the seller (your old landlord) at the time escrow closed. Or at least that's how it should have been done. As to being on month-to-month it does not matter.

Sincerely,

Vladimir Rozumniy
Sr. Vice President/Managing Director
American Mortgage & Real Estate Group
8159 Santa Monica Blvd Ste., 201
West Hollywood, CA 90046
Direct [phone]
Fax [phone]
Email: [e-mail]
Website: http://www.amregroup.com

Answer 6

Your old landlords should give your deposit (and all interest earned) to the new ones as part of the property transfer. You might want to contact your new landlords and make sure they know the correct amount, just to be safe.

Answer 7

Your old landlord should turn over the deposit money to the new owner. The new landlord is responsible for giving this money back to you.

Answer 8

I've been in this situation before. The new company has purchased all of the leases of the current tenants as part of the deal. They should pay the deposit back, unless they come up with a new lease that you will need to sign.

Answer 9

When the new owners bought the place, did you sign a new lease?
Normally, I believe the new owners received the security deposit in which you payed, so they will have to return it to you.
If the sales agreement had no rental attachments, or agreements, then you need to seek relief from whomever the receipt of deposit was written by.

Answer 10

Duplexes would properly be one after the other deeded, purely like a apartment or townhome. even nevertheless they are linked, there would properly be 2 (or extra) separate proprietors, and that they may well be bought one after the other. you are able to stay in the duplex till your hire is over. If it sells jointly as you're a tenant, then the words of the hire carry over to the recent proprietor, and you pay hire to the recent proprietor. the quantity of hire and different words nevertheless word. they might decide directly to no longer renew your hire, and kick you out whilst your hire ends. Or the recent proprietor would desire you as their tenant. Your hire in all probability has a clause approximately how lots notice they might desire to offer you on the tip of your hire term in the event that they desire you out... notwithstanding it nevertheless cant be til the hire ends. they won't rigidity you to allow a real components agent in with shoppers to instruct the residing house you're renting. i'd touch the owner, and communicate a alleviation in hire to your inconvenience of having to maintain the placement spotless in any respect situations, and having it shown.