[RPPTL LandTen] Security deposit issues

[Harry Heist]

So, the owner fires management or management fires owner, where does sec dep go?

 

Law: (7)  Upon the sale or transfer of title of the rental property from one owner to another, or upon a change in the designated rental agent, any and all security deposits or advance rents being held for the benefit of the tenants shall be transferred to the new owner or agent, together with any earned interest and with an accurate accounting showing the amounts to be credited to each tenant account. Upon the transfer of such funds and records to the new owner or agent, and upon transmittal of a written receipt therefor, the transferor is free from the obligation imposed in subsection (1) to hold such moneys on behalf of the tenant.

 

So. Sale from one owner to another, manager can transfer to new owner. Change in designated agent, manager can transfer to designated agent.

 

Big question. Suppose transfer is from manager to current owner?

 

Orlando judge said manager had to transfer to current owner when management was terminated.

 

Tampa case: attached. Opposite interpretation.

 

Issue: was the omission of “current owner” in the statute a mistake or on purpose? Is it obvious that a current owner has the same rights as a new “agent”  or a new “owner” so it goes without saying an agent can transfer to the current owner?

 

See attached from “Florida Bad Law Weekly”.

 

This needs to be clarified.  It is an easy legislative fix.

 

Harry

 

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