Full question:
It is officially February 1. My lease has been over since Nov.1, 2006. I have not received my security and damage deposits. What should I do?
- Category: Landlord Tenant
- Date:
- State: Minnesota
Answer:
According to the law, landlords must return a security deposit within three weeks after the tenancy ends or within five days if the tenant leaves due to legal condemnation of the property. If the landlord withholds the deposit, they must provide a written statement detailing the reasons for the withholding.
If the landlord fails to return the deposit or provide a statement, they may be liable for damages equal to the withheld amount plus interest. Additionally, if a landlord does not comply with these rules, it is presumed they are acting in bad faith, which can result in punitive damages up to two hundred dollars for each deposit.
After a landlord's interest in the property ends, they have sixty days to either return the deposit or transfer it to a new owner. If they do not comply, they may face further legal consequences.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.