What if money is owed : ezLandlordForms

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What if money is owed

G

Gerri C

started a topic about 5 years ago

Property owner is selling rental apartments in VA. All leases and deposits are prepared and ready to handed over at closing. However the current owner has stated he is owed money by a few of the tenants and wants to keep the deposits of those few and not transfer them to the new owner in order to settle money owed to him.....can this be done?

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M

Matthew M

said about 5 years ago

Talk to your real estate agent. In my case, the amount of outstanding debt (security deposits) was deducted from the sale price. Therefore, I was responsible for refunding the deposit upon move out.

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