[RPPTL LandTen] Question for my residential colleagues
Drobner, David S.
ddrobner at carltonfields.com
Thu Jun 10 08:33:35 PDT 2010
Is it a residential vs. commercial translation thing? Commercial leases
typically provide the landlord "shall" transfer the deposit to the
successor and the successor "shall" be liable for its return; and if the
commercial grantee neglects to get the money it still has a contractual
performance obligation to return moneys. You are assuming the
residential lease has no such provisions? It's true I do not know the
residential side well enough...
________________________________
From: landten-bounces at lists.flabarrpptl.org
[mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of David
Weisman
Sent: Thursday, June 10, 2010 11:30 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] Question for my residential colleagues
The contract only requires him to return what he has. If he never
received it he does not have it.
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
From: landten-bounces at lists.flabarrpptl.org
[mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Drobner,
David S.
Sent: Thursday, June 10, 2010 11:23 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] Question for my residential colleagues
Why wouldn't the grantee be liable to fully perform under the Lease
contract he assumed, including return of moneys (deposit) at end of
term? He maybe then has a claim against the grantor for his loss in this
regard unless the conveyance included releases? How can the grantee be
relieved of a contract obligation of performance?
________________________________
From: landten-bounces at lists.flabarrpptl.org
[mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of David
Weisman
Sent: Thursday, June 10, 2010 11:09 AM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] Question for my residential colleagues
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
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
433 Plaza Real
Suite 275
Boca Raton, Florida 33401-4323
Phone: 561.962.4145
Fax: 561.962.4245
SAFrank at arnstein.com <mailto:SAFrank at arnstein.com>
Offices in Illinois, Florida, and Wisconsin
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