In non-deficiency states, homeowners may actually be forfeiting their rights of non-deficiency if they do a short sale.

States that security deposit will be returned at the end of the lease term, and tenants need to give a 30 day notice of vacating or forfeit their deposit.

In most contacts, the penalty for forfeiture of the contract is sufficient that the party extending the asset/credit is going to be relatively happy whether the borrower fulfills the contract or forfeits the contract.

In June 2010 sells many countys in Ohio forfeited land parcels some with houses on it.I have interest to bid on few of these properties last year most of them gone for under $100 each.My problem, I´m not in the US in June.

I'm not concerned with respect to a deficiency resulting in a 1099-C, as a seller is protected against either via the Mortgage Debt Relief Act (owner-occ) or via insolvency (non-owner occ), although educating and convincing a misinformed lay person or realtor can be quite a challenge on the tax forgiveness issue as well.Another frequent objection from sellers and agents alike is that because my offer is so low, it will create an unecessary delay when they're of the belief the bank will most likely deny a "lowball" investor offer in the end - and all those weeks or months in which an offer at or close to market value could've been accepted were forfeited in vain.

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?

No, they don't like you, they're just saying that.Their and theirs - Their rights as citizens have been forfeited.

I thought the norm was like the cost of first and last months rent and maybe forfeiting your deposit.

I know they have certain rights, but don't they forfeit SOME of those rights when they neglect to pay?

In my state, if you do a deed-in-lieu of foreclosure, you forfeit your anti-deficiency protection.