Walk It Through: The Building Is Sold
A new owner, the deposit, a breach notice, smoke detectors and the move.
Mid-lease, the building is sold, and the tenant wonders who holds the deposit now.
Two things a person in this spot might do. Picking one shows what the law says about it.
One sale of one building. A new owner's own lease terms, a foreclosure sale of the building, rent increases and pet deposits are not worked through here.
A practice walkthrough, not a prediction of how any real one will go. Legal information, not legal advice.
Words this turns on
Terms with a legal meaning that is narrower than the everyday one. Each links to the definition and the authority behind it.
- Normal wear and tearThe deterioration that comes from the intended use of the place, without negligence, carelessness, accident, misuse or abuse by the tenant, the household or guests. Nothing may be kept from the deposit for it.
- Security depositMoney a tenant deposits with a landlord for any purpose other than rent, refunded within twenty-one days where the lease sets no time and within thirty days in any event, with an itemized statement for anything kept.
- Treble damagesDamages entered at three times the amount assessed, which the landlord and tenant chapter allows in an action under the tenant's section.
- Unlawful detainerStaying in a rental after the right to stay has ended, as after a written three days' notice to pay rent or give up possession has run.
- Tenancy at willA tenancy with no fixed end, which either side may end by written notice of not less than one month.