Deposits on Rentals

[Amanda Shreve]

Good morning,

I work alongside the Property Manager in the real estate office that I work at. I'm not licensed but I'm doing my best to learn what I can. We do have a lawyer that we work with often but, before we head there, I just wanted a bit of an understanding on this topic.

If someone purchases a property and keeps the tenant that the previous owner had, who is responsible for returning the deposit to the tenant, when the tenant moves out? We're currently having an issue with the tenant claiming he paid $550 when he moved in but does not have a receipt. The previous owner did not leave any documentation on this.

Thanks!