Legal Question in Landlord & Tenant Law in Louisiana

Repayment of deposit

I am in the process of selling some rental property as is. The buyer will be acquiring the properties with the current tenants occupying the residents. My question is, who is liable for the repayment of the deposit to the tenant when the lease expires.


Asked on 5/08/09, 3:30 pm

1 Answer from Attorneys
Adam Lambert The Law Office of Adam S. Lambert

Re: Repayment of deposit

You are supposed to turn over the deposit to the new owner, who holds the money in escrow for the tenant. MAKE SURE YOU GET A RECEIPT CLEARLY SHOWING THAT YOU HAVE TURNED OVER THE MONEY AND THAT THE NEW OWNER IS RESPONSIBLE FOR HOLDING IT AND TURNING IT OVER TO THE TENANT AT THE EXPIRATION OF THE LEASE. The law does not require you to send a copy to the tenant, but I would.

Also, ask your closing agent about it. It may be possible to have the money listed on the closing documents. If so, have them list it.

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Answered on 5/08/09, 4:35 pm


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