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Updated almost 8 years ago on . Most recent reply
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Divorce... security deposit?
So, not sure there is a problem but I want to be proactive here. The tenants in one of my properties will not be renewing their lease due a divorce. How would you handle the security deposit? Would you just return it to the main tenant and let them / divorce decree deal with it or would you require they put something in writing that spells out their agreement on the disbursement. I only know they're divorcing because one of them indicated that as the reason they would not be renewing. They have been model tenants and I don't expect any issues. Do I need to get in the middle of this or just pay one and be done? My intuition says just cut a check to the one I've been dealing with all along.
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Are both names on the lease as tenants? If so, then write the check out to both parties, that way one cannot screw the other.
I would not get involved with their family issues.