Updated about 10 years ago on . Most recent reply
Security deposit return rules in a divorce?
Hello, we have a couple that rented our townhouse in MN. With 5 months to go in the lease, she left. He has been paying the rent and wants to lease again in his name. Does anyone know the rules on where the original "joint" security deposit would go to? 50/50? per divorce settlement/paperwork? he is entitled to it and can use for new lease?
I would love feedback on experiences with this. Thank you
Most Popular Reply
When we move new tenants in, we explain that deposits are not refunded until all tenants move out, that they need to work things out if one leaves earlier. In my mind if one tenant moves out, they need to give written notice that they want off the lease. If they don't, it is in your best interest to leave the agreement alone. Of course, we don't do renewals; it's all month to month and rolls forward. But whenever we have to do updated paperwork when not everyone moves out, we rely on the original property condition report and security deposit. Would you want to do a new property condition report when their furniture is possibly hiding damage?