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Updated almost 8 years ago on . Most recent reply

Peter K.'s profile image
Peter K.'s profile image
Peter K.
  • Real Estate Broker
  • from Raleigh, NC
  • Member since Jun 15, 2017

User Stats

174
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69
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Peter K.'s profile image
Peter K.'s profile image
Peter K.
  • Real Estate Broker
  • from Raleigh, NC
  • Member since Jun 15, 2017
Peter K.
  • Real Estate Broker
  • Raleigh, NC
69
Votes |
174
Posts
General Landlording & Rental Properties

North Carolina security deposit law?

Peter K.
  • Real Estate Broker
  • Raleigh, NC
Posted
I own a duplex, no LLC, for security deposit, I read online that for NC it needs to be in a trust acct or a bond for that amount? Can I not put it in a separate personal savings acct? Would that not suffice?
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Chris T.'s profile image
Chris T.'s profile image
Chris T.
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Jan 7, 2013

User Stats

491
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Chris T.'s profile image
Chris T.'s profile image
Chris T.
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Jan 7, 2013
Chris T.
  • Rental Property Investor
  • Charlotte, NC
253
Votes |
491
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Chris T.
  • Rental Property Investor
  • Charlotte, NC
Replied

Yes, a separate account at a bank that has a physical location in NC should suffice.

  • Chris T.
    • 1 Vote
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