Legal Question in Real Estate Law in Pennsylvania

How long is a deposit good for? I was selling a property and the buyers paid $1000. down over a year ago and now want their depoist back do i HAVE TO GIVE IT BACK SINCE IT HAS BEEN OVER A YEAR


Asked on 12/31/10, 12:32 pm

1 Answer from Attorneys
John Davidson Law Office of John A. Davidson

Why not ask your lawyer? You were entering into a contract for property that warranted $1000 deposit yet had no attorney? The what does the contract say about the deposit especially about what has to happen for it to be returned. How long did the contract say they had to complete the purchase? If it didn't and you wrote the contract then a court would interpret your omissions and lack of clarity against you.

So if you don't have a lawyer you'll have to see what's in the contract.

{John}

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Answered on 1/05/11, 2:00 pm


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