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Updated over 10 years ago on . Most recent reply

Glenn Willeford's profile image
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Glenn Willeford
  • from Baton Rouge, Louisiana
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Glenn Willeford's profile image
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Glenn Willeford
  • from Baton Rouge, Louisiana
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Glenn Willeford
  • Baton Rouge, LA
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Buying & Selling Real Estate

Security Deposits

Glenn Willeford
  • Baton Rouge, LA
Posted

Does a multi-family property buyer receive the tenants security deposits at closing?

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Nicole A.
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Nicole A.
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Nicole A.
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Nicole A.
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ModeratorReplied

Don't forget the interest for the time held by previous owner too...assuming your state law says security deposits are to be held in an interest-accruing account. In Maryland, for example, it's 3% simple interest per year.

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