Bankruptcy of property manager

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Bankruptcy of property manager

We paid a deposit to a property manager to be applied toward rental of a one week stay in the Keys. The property manager filed bankruptcy and included our deposit. Is that legal?

Asked on June 2, 2009 under Bankruptcy Law, Florida

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

I'm sorry to say that it probably is legal.  You are now an unsecured creditor of the property manager, and if you're lucky, you'll get some of your money back at some point.  The fact that you were notified as a creditor, means that the manager didn't pass the money along to the property owner, so you may have a problem with this.  You should probably not plan on that rental, but please take all of the paperwork and see a Florida attorney, for accurate advice on your rights and options, based on all of the facts.  One place to find a qualified lawyer is our website, http://attorneypages.com


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