Responsibility for Security Deposit

[Steve Dudick]

I recently acquired a property in Michigan and a former tenant is now claiming that I owe her the return of her security deposit.  She vacated the premises a week prior to my taking ownership.  Does she have a valid point?  Am I responsible for her repaying her security deposit or is the former owner responsible?  Have any of you dealt with a similar situation before?

[Matthew Kreitzer]

Depends almost entirely on the terms of the lease and the terms of the purchase contract. The obligation to take care of monies in trust transfer, typically, as part of a sale agreement. If the leasehold had terminated prior to the transfer of ownership, and the security deposit obligation was not part of the sale transfer, it is likely, although not guaranteed, that original lessor is liable for its return.

All this is speculative without looking at the contract terms and the lease. Consult attorney.