I open the restaurant 2003, I gave him 3000.00 dollar for 1month security deposit to put in interest bearing account as agreed in the lease . Now I am selling my business.
on original lease if I sell my business I have to give the landlord additional 2month security deposit. Which is OK but my landlord told me since it is new tenant, the deposit 3000 + 6000 = $9000.00 will not be in the interest bearing account.
my question , is it against law in New York that security deposit have to be in the interest account
also he have to honor the original lease agrement?