If a landlord sells the house you are renting, whose responsibility is it to make sure your deposit is transferred?
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If a landlord sells the house you are renting, whose responsibility is it to make sure your deposit is transferred?
There is nothing in my lease pertaining to sale of the property. I paid a regular deposit and a pet deposit.
Asked on February 25, 2012 under Real Estate Law, Tennessee
Answers:
Todd Mosley / Memphis Bankruptcy Practice
Answered 12 years ago | Contributor
Your landlord should return the deposit unless your landlord tries to claim that you have damaged the property and he is out of pocket to fix the damages. Use the rent deposit as a negotiation tool in the purchase of the property. In your contract to purchase the property, you should add a provision that your rent deposit will be used towards the purchase of the property.
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