General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
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.