Legal Question in Real Estate Law in New Jersey

use of security money

Question? I gave the landlord a month and hlaf security

I would like to know according to the New Jersey Truth in Renting Laws can I use the security for the next months rent if the landlord doesn't inform you what bank your security is in within the legal time period allows him to do so. Ifd so please give me the statuted.

Thank you.

MP


Asked on 5/30/02, 3:04 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: use of security money

No, in New Jersey, rent and security are mutually exclusive. You must pay all rent up to the end of the lease. After you vacate, the landlord has 30 days to return the security, along with any interest earned on it, and must give you specific details of any monies deducted (such as repairs). If the security is not timely returned, you have the right to sue and get same plus your legal fees. You cannot use the security to pay the last month's rent.

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Answered on 6/03/02, 5:56 pm


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