Inherited Tenant Security Deposit

[Naftali Tolibas]

So I'm near closing for this duplex that I am planning on house hacking and will be inheriting tenants on the other side. My RE agent just informed me that he doesn't know if the seller will be providing the Security Deposit, or if I have to fork that up.

I assumed that it was supposed to be handed over, I'm not sure where I drew that conclusion though. I check the contract and couldn't find anything on security deposits. If it isn't on the contract, would I have to front the security deposit when the tenant turns over? 

[Eileen Murray]

In NYS, the seller, by law, has to turn over security deposits to the new owner. Check your states landlord tenant laws. If it’s there, your seller has a legal obligation.