Legal Question in Real Estate Law in Indiana

Security Deposits?

Can anyone tell me if there any stipulations for the security deposit? Does the money need to be kept in a non-iterest bearing account? Does the landlord have to pay interest fees if it not? What are the laws in Indiana?


Asked on 6/26/02, 7:50 am

1 Answer from Attorneys
John Bator Bator Redman & Shive

Re: Security Deposits?

The landlord has the responsibilty for remitting the deposit within thirty days of termination of the lease-there is no requirement that it be put in an interest-bearing account, but if they charge for anything and deduct from the deposit, the landlord must conduct an inspection and provide a detailed list itemizing any repairs, etc. that were deducted.

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Answered on 7/01/02, 1:41 pm


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