Legal Question in Real Estate Law in New Jersey

What are the rules regarding security deposit for commercial rental? I have given my landlord 1.5 months rent as a security deposit. Is he required to open an interest bearing account to hold that money? Where is this documented?


Asked on 5/13/11, 4:38 pm

2 Answers from Attorneys
Robert Davies The Davies Law Firm, P.A.

On a commercial lease, no, it does not need to, unless it says so in the lease. There are a lot of issues that may cause you problems. I would need to look over the whole lease, and I can then give you some advice.

Robert Davies, Attorney 201 820 3460

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Answered on 5/14/11, 11:52 am
Larry Raiken Larry S Raiken LLC

The requirements that apply to residential leases sucha s security deposits do not apply to commercial security deposits. Ar eading of the lease may change my opinion. Call my office and set up an appointment.

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Answered on 5/16/11, 8:39 am


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