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Updated over 14 years ago on . Most recent reply

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,092
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28,085
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Tenant can't be found to return Security Deposit

Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorPosted

Wyoming law states I must return the deposit within 30 days, or 15 days after receiving a forwarding address. If there are deductions due to cleaning or repairs, I have 60 days to return the remainders of the deposit.

I've sent mail to the last forwarding address, tried forwarding through the post office, tried contacting everyone listed on her application, etc. No luck and it's been well over a year. Am I required to keep and track her security deposit forever or is there some statute of limitations whereby she forfeits the right to the funds?

I understand the Wyoming law as it's written and explained above. But there's nothing in writing to address a tenant that can't be located. Do I need to keep it for eternity? What about the costs of accounting for it, maintaining an account, etc? At some point the tenant should forfeit and I'm wondering if anyone can show me law (not opinion) to support this?

  • Nathan Gesner
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Most Popular Reply

Account Closed
  • Investor
  • Monclova, OH
14
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Account Closed
  • Investor
  • Monclova, OH
Replied

Nathan,

I don't know the statue of limitation for Wyoming. When ever I go to return a deposit from a tenant I always send it certified return receipt. Then when the letter and check come back to me because no one signed for it. I would file the sealed envelop in that properties file. If the tenant were to ever try and take me to court for not returning there deposit. I have proof that I made an attempt to return there deposit.

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