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Refund of Security Deposit
We paid a security deposit in Louisiana on Friday and signed a form saying it was non-refundable. We have not signed the Lease Agreement. Over the weekend, we decided to go with a less expensive house and want to know if we have any rights on getting some or all of that security deposit back. I doubt we have a chance but we told the Realtor the next business day (Monday) that we are backing out. Is there a grace period? I know we caused an inconvenience but it surely didn't cost them $2400 which is what the security deposit was for.
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I would say at this point it would purely be out of the kindness of their hearts if they choose to refund any of it to you.
You can search the state landlord/tenant laws to see if there's anything in there that might help you out. There's a link in the first post of this forum. |
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A non refundable security deposit of $2400? Was this for a home purchase or apartment rental? If its for an apartment rental I'm not sure its legal. Was there anything signed?
Under LA law: http://www.legis.state.la.us/lss/lss.asp?doc=107468 Any securitry deposit needs to be returned at the termination of the lease. So a non refundable deposit might not be considered legal. On the other hand, You are trying to break the lease, but since no lease has been signed, that would seem to give you an out. Definitely tell them immediately that you changed your mind. If they refuse to return the deposit, ask them under what laws they feel they can charge such a deposit? |
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