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Landlord sold his house & the new owners said we can stay, but what about my deposit?

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  • Landlord sold his house & the new owners said we can stay, but what about my deposit?

    my landlord sold his house & the new owners said we can stay, but what about my deposit?? should the old one give it back to me & I give it to the new landlords?? he said he was going to give it back but now he said he spoke with his lawyer & that it is ok he does not have to give it to me

  • #2
    Re: Landlord sold his house & the new owners said we can stay, but what about my depo

    The old landlord should give you back the deposit and you place a new deposit with the new owners.

    And have them all confirm that in writing.

    Take the LL to small claims if you cannot get him to acknowledge this and to pay you.

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    • #3
      Re: Landlord sold his house & the new owners said we can stay, but what about my depo

      The last post is incorrect. The old LL does NOT refund your deposit and you do NOT place a new deposit with the new owner. That is not how it works. Deposits are never refunded as long as the property is occupied.

      The correct procedure is that the deposit is transferred to the new owners as part of closing on the sale of rental property. If this was done according to standard procedure, you have nothing to worry about and the new owners have your deposit.

      But to be sure: Get out your receipt for your deposit, make a copy for the new owners, and ask them if this deposit was transferred to them at closing (along with interest that is required by your state law, if any). If it wasn't, request that they pursue the old owner for this deposit now, before you move out. This was to have been given to them at closing. They are responsible for your deposit. If they don't have it, they need to ask the old LL for it. Hopefully, it was transferred and you have no worries.

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