Legal Question in Real Estate Law in California

My real estate broker fail to advise me about the tenant's security deposit and did not include it in the escrow contract when we purchase the rental property. Now I am having problems getting the previous owner/landlord to transfer the security deposit to me. Is there any legal recourse I can take against both my broker and the previous owner/landlord?

Thank you.


Asked on 10/05/11, 1:23 pm

2 Answers from Attorneys
Terry A. Nelson Nelson & Lawless

Legal recourse is a small claims suit for your costs/damages if under $7500.

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Answered on 10/05/11, 1:55 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Not sure, and my library is no help, whether a broker has a duty to advise regarding transfers of security deposits. One might think so, but perhaps that would be "legal advice" that a broker isn't supposed to give. Anyway, if you go to Small Claims, name both the broker and the seller as defendants and see what the judge thinks. Maybe one will settle with you before the hearing. Try Nolo Press book "Everybody's Guide to Small Claims Court in California."

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Answered on 10/05/11, 2:57 pm


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