Legal Question in Landlord & Tenant Law in New Jersey

I have rented my condo to a woman for two years. When the security deposit was received, I put it in a separate bank account. The name of the bank was included in the lease. However, I did not send her the annual interest accrued in the account. Now I am told that she is entitled to a penalty of doubt the amount wrongfully withheld because I did not send the accounting information on the interest payment annual. Does this make any sense?


Asked on 6/10/11, 4:16 pm

1 Answer from Attorneys
Bruce Gudin Ehrlich, Petriello, Gudin & Plaza Esqs.

Under the facts as you have stated them your tenant is not entitled to the doubling of anything under the New Jersey Security Deposit Law, yet.

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Answered on 6/12/11, 7:05 pm


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