[RPPTL LandTen] Question for my residential colleagues

[David Weisman]

I think that the Grantee is not responsible for money he does not receive, either in cash or via a closing credit. The Tenant must look to the prior owner. No difference if a deed in lieu.

David  Weisman
Board Certified Real Estate Lawyer
Greenspoon Marder, P.A.
Trade Center South, Suite 700
100 West Cypress Creek Road
Ft. Lauderdale, FL 33309
Phone 954-491-1120
Toll Free 888-491-1120
Direct Phone 954-343-6941
Direct Fax 954-343-6942

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From: landten-bounces at lists.flabarrpptl.org [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Frank, Scott A.
Sent: Thursday, June 10, 2010 10:37 AM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] Question for my residential colleagues

Question for my residential colleagues from this commercial fool.

Grantor owns residential rental real estate with a security deposit and conveys the property to grantee.  However, Grantor freely admits that it no longer holds the security deposit (spent it) and will not provide for a credit or other adjustment.

83.49 provides only that the grantor in this situation is released from liability only to the extent that it conveys the deposit - so they are not off the hook.  But the statute does not reference what limitation, if any, the grantee has with respect to liability for the deposit.  Is the Grantee then liable for the security deposit to the tenant, if the grantee did not in fact receive the deposit?

And would your opinion change if this was a deed in lieu, with the possibility that the grantee may just foreclose anyway?

Your guidance and wisdom is much appreciated.

Thanks.

Scott A Frank
Attorney at Law
ARNSTEIN & LEHR LLP
www.arnstein.com<http://www.arnstein.com/>

515 North Flagler Drive
Sixth Floor
West Palm Beach, Florida 33401-4323
Phone: 561.833.9800
Fax: 561.655.5551

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Suite 275
Boca Raton, Florida 33401-4323
Phone: 561.962.4145
Fax: 561.962.4245
SAFrank at arnstein.com<mailto:SAFrank at arnstein.com>

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