Legal Question in Real Estate Law in New Jersey

I have a multi part question. If I live in a two family house as a tenant that is occupied by the owner does the law still apply where the owner has to provided the tenant in writing within thirty days the bank where the deposit is being held, the type of account and the interest the account yields?

Also if the case is that the owner does in fact have to provide notice and fails to do so does the tenant have the right to use the deposit (after giving proper notice) to cover the last months rent and reduce the second to last months rent by the compounded interest owed? If not both than would one apply? i.e. just using the deposit to cover the last months rent.


Asked on 8/10/09, 6:57 am

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

If the landlord takes a security deposit, he/she has to treat it as the law requires. If the tenant does not receive the proper initial notice or an annual accounting after a request, the security deposit can be applied to the rent and the landlord loses the right to ask for a security deposit no matter how long the tenancy lasts.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 8/15/09, 9:46 am


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