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Updated over 10 years ago on . Most recent reply

Glenn Willeford's profile image
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Glenn Willeford
  • from Baton Rouge, Louisiana
  • Member since Feb 21, 2012
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Glenn Willeford's profile image
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Glenn Willeford
  • from Baton Rouge, Louisiana
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Glenn Willeford
  • Baton Rouge, LA
10
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Buying & Selling Real Estate

Security Deposits

Glenn Willeford
  • Baton Rouge, LA
Posted

Does a multi-family property buyer receive the tenants security deposits at closing?

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Nicole A.'s profile image
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Nicole A.
  • Rental Property Investor
  • from Baltimore County Maryland and Tampa Florida
  • Member since Aug 8, 2013
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Nicole A.
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  • from Baltimore County Maryland and Tampa Florida
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Nicole A.
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
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Nicole A.
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
ModeratorReplied

Don't forget the interest for the time held by previous owner too...assuming your state law says security deposits are to be held in an interest-accruing account. In Maryland, for example, it's 3% simple interest per year.

  • Nicole A.
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