Full question:
I moved out of my apartment building and I left it spotless when I left. I did not owe any rent. A year or so before I moved out of the building it was sold. It had approximately 15 apartments. I asked for my security deposit back and the new owner said that when he bought the building the owner never gave him the security deposits for the building and that I have to get my security deposit from him, who has since moved to Arizona. Doesn't this new owner assume all the obligations of the building when he bought it? Does he (the new owner) have to pay me? To me it seems funny if they both had attorneys when the place was sold that the security deposit money wasn't transferred. One more thing, if I go to court, is there any law or something I could reference to show the judge?
- Category: Landlord Tenant
- Date:
- State: Pennsylvania
Answer:
The security deposit may be transferred to the new owner, making the new owner responsible, or the prior owner may refund the security deposit to the tenant. However, the old owner may remain liable for a security deposit until the new owner gives the tenant a statement acknowledging receipt of the deposit. State laws vary, but typically if the seller fails to either refund the security deposit to the tenant or turn it over to the buyer, then both the new owner and the seller are responsible for the tenant's security deposit. The new owner, however, bears the ultimate responsibility to the tenant for the deposit, unless they can establish that they made a reasonable investigation and believed in good faith that the money was either transferred or returned before they purchased the property.
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.
