What happens to a security deposit when title to the property transfers to a new owner?

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What happens to a security deposit when title to the property transfers to a new owner?

A rental property has passed from father to daughter. Does the deposit that the renter paid to the father carry through to the daughter? No new rental agreement was ever signed with the daughter.

Asked on March 21, 2012 under Real Estate Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Unless the tenant signs a written agreement with respect to his or her security deposit being transferred over to the new owner of the rented proeprty, the landlord that received possession of your security deposit (prior owner) is responsible for returning it to you when you vacate the rental even though title to it has changed to a new owner.


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