Legal Question in Real Estate Law in New Jersey
rental security deposit
My tenant signed a one year lease in July of this year. Unfortunately he passed away this month. Am I entitled to keep the security deposit which is being held in an interest bearing bank account?
Asked on 9/18/08, 1:45 pm
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
Re: rental security deposit
You are entitled to treat the situation as with any other tenant who vacates early. That is, you may seek recovery of the rent to the end of the term subject to any obligation to mitigate damages (re-rent) that the lease leaves open. The security deposit may be kept as a setoff to rent due.
See also: http://info.corbettlaw.net/lawguru.htm
Answered on 9/19/08, 9:12 am
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