Security deposit on commercial property tennessee?

The landlord on my commercial space owes me my security deposit. Per the contract, he had 10 days to return it. Tommorow is day 10. I received an email from him telling me that he was waiting on payment from a client before he can pay me! Per the law, does he have to hold that security in a seperate account? This is burning me, b/c I was 1 day late 1 time and he charged me the late fee, so I want to be prepared if he is late. If it goes to court can I sue him for all court and attorney fees as well as the deposit? BTW, he has already inspected the property and agreed that I was due all of my deposit.

I don't believe TN law requires escrow of security deposits. YOu can try and get back reasonable costs and fees; no guarantee you will for a 3 day miss.

Contact him and remind him of the contract. I am sure it does not contain a clause stating you have to wait for him to collect from someone else. This would be a Small Claims court case (if needed) and he would be required to pay for the filing fee when the ruling was made against him.

The salient point here is that this is a COMMERCIAL lease which is governed by contract law, not L/T laws of tennessee.

My reading of the Tennessee statutes does NOT require that the deposit be held in an interest bearing or other restricted account unless the specific lease so calls for such.

Also, unless there is language to the effect that you are allowed to charge a late fee for the deposit being late, you will most likely also lose on that point. Read your lease for all possible clauses but as of my reading of the relevant law, you will need to wait until it is apparant the deposit is not being paid (one wee after the 10 days with a notice to pay sent) before suing for specific performance.