Ask Experts Questions for FREE Help !
Ask
    BOBOH3's Avatar
    BOBOH3 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 18, 2009, 07:56 AM
    My Landloed has not provided a certificate of deposit for security deposit
    I have requested several times,verbally, a receipt for an escrow account for my 2100 dollar security deposit. The landlord has not complied and I feel he has spent the money.
    I called him on several occasions which finally he picked up the phone. I told him to figure on picking up the rent directley from me so we can settle this issue and some others. Now he has not stopped in to pick up the rent, it is 3 weeks know waiting. What are my legal rights on getting this money back, Can I not pay the rent for 1.5 months?


    Thank You
    Boboh
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Jan 18, 2009, 09:13 AM

    Are you sure he is required to deposit the security? What state do you live in? Can you cite the law on deposits?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #3

    Jan 18, 2009, 09:26 AM
    Hello B:

    Notwithstanding your dispute over the deposit, if you don't pay the rent, you can be evicted, and the deposit issue won't prevent that.

    IF the landlord is required to deposit your funds, then I'm sure there's a sanction for NOT doing so in your state landlord/tenant laws. Whatever it is, for sure it ISN'T withholding rent. Plus, it most likely won't be adjudicated until AFTER it becomes an issue. At this point, you have no legal issue, because you're not out anything.

    In fact, your only REAL interest in the money is that he pays the proper statutory interest on your money when he pays it back, assuming he does. You don't know that he's not going to do that. At that time, where he had it is moot.

    Certainly, you have no legal basis to sue him... In fact, because you haven't paid rent, HE has a basis for suing YOU.

    excon
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
     
    #4

    Jan 18, 2009, 11:03 AM

    If you don't keep current with your rent you will be evicted in short order and you will lose your entire deposit. Do you really want to see how this will play out in Court just keep not paying the rent and you will find out soon enough. The deposit money would probably earn a whopping $3.50 in interest anyway over who knows how long a period at today's interest rates. If you don't trust this guy now, you will probably have to take loads of pictures to prove you didn't damage the rental property and take the guy to court for the return of your deposit if and when you do move out.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Certificate of Deposit Ownership [ 1 Answers ]

My sister and I have a small inheritance, gifted to us jointly by our father. It was in an investment account as Joint Tenants, With Right of Survival going to our children upon our deaths. Some of the money has been pulled from this account and put into CD's, with ownership in my sisters name In...

Registration of a Certificate of Deposit [ 2 Answers ]

Can a Certificate of Deposit be issued with three names: ie: John Doe; POD Jane and Jim Doe?

Certificate of deposit [ 2 Answers ]

You need $28,974 at the end of nine years, and your only investment outlet is an 8 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. a. What single payment could be made at the...

Certificate of Deposit (CD) [ 5 Answers ]

Hi all, I have a quick question about CD. I know the type of CD varies by periods (6 mo, 1 yr, 3 yr, so on), but I want to know more about the detail. For example, I know that if I open up a CD with $1000 with 5% APR for a 1 year CD means I will take $1000 + 5% interest (being $50) at the end...

Certificate of deposit [ 2 Answers ]

Hi I was wanting to know about 5yrs ago my dad paid my child support I was 16 and my mom gave the check to my uncle and he put the check into a cd for 5yrs and we don't know what bank he put it in and recently he had stroke and his memory is not good at all he doesn't remember much so I just turn...


View more questions Search