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Updated over 7 years ago on . Most recent reply

User Stats

108
Posts
50
Votes
Lee Gierszewski
  • Investor
  • Bismarck, ND
50
Votes |
108
Posts

Inherited tenant/lease issues with sellers paying me deposits

Lee Gierszewski
  • Investor
  • Bismarck, ND
Posted

I recently purchased a duplex. One unit was vacant, one unit has an existing tenant. I've already put the existing tenant into a new lease so that is not the issue. The issue I have is with the former lease. I was under the assumption that I should inherit the deposit ($1100) and the pet deposit ($800). I never received the $1100 at closing but my realtor was able to get that within a couple of days from the seller. I still have not received the pet deposit, and they are claiming that it is non refundable, so they should get to keep it. They are also claiming they over paid me when they gave me the $1100. Here is the email they sent to my realtor:

Most Popular Reply

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2,667
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1,760
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Deanna McCormick
  • Minneapolis, MN
1,760
Votes |
2,667
Posts
Deanna McCormick
  • Minneapolis, MN
Replied

Your realtor  or closer dropped the ball.. this all should have been taken care of within your closing docs.

Basically there is a reason the guy sold.. he doesn't know landlord law and I doubt your gonna teach him or get another dime back. 

Go back to your closing docs see what is listed.. that's your only hope and you might have to sue him if it's listed. 

All security deposits and interest from date of occupancy should transfer to new owner.

You accepted the building in condition of date of sale ... you do inspection, and from that inspection is what you can charge for for deductions.

Any prior deductions from old owner were his problem.. you should get entire security deposit listed on leases. 

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