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Updated over 6 years ago on . Most recent reply

User Stats

10
Posts
1
Votes
Kevin Sullivan
  • Rental Property Investor
  • Buffalo, NY
1
Votes |
10
Posts

Security deposit issue

Kevin Sullivan
  • Rental Property Investor
  • Buffalo, NY
Posted
I recently purchased a 4 unit building using seller financing. The previous owner and mortgage holder claimed he did not receive any security deposits from the tenants, thus no deposits transferred to me upon closing. One of the tenants who I inherited recently stated she paid a security deposit to the previous owner many years ago. She still provided me with a check of the full amount requested for the deposit. I am wondering if there are any legal ramifications for me depositing this security deposit check when the tenant is stating they already paid one? I did receive a hand written letter explaining this situation from the tenant in question, including a portion of it stating “I understand you have a right to request a security deposit as the new landlord, but I wanted you to know this information” Thanks in advanced!

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