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I'm getting a new landlord for my commercial rental space. What happens to my security deposit to old landlord |
live in state of MO. all the deposits will be handed over to the new owner at closing It is supposed to be a part of the sale of the property... old landlord gives it to the new landlord. you should of had a lease or something that ensures you and him are protected. if the lease says you get it back then u do. the new land lord can raise the rent or what ever but he has to give you a notice and you will then have to enter into a new lease. Get a document called an estopell. This supersedes the lease agreement. It is between you and the current owner and can even include info on the new owner. The form just states exactly what your rental fee is and exactly what your deposit is. That the figure is current and accurate. I'd want to have the new owner sign that asap. So that when you vacate you have their sign. on it. your deposit will transfer to the new landlord as will the terms of your existing commercial lease (i.e. don't expect any big rent hikes until your present contract comes up for renewal) They usually transfer it across. Can you trust them? |
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