[RPPTL LandTen] Nagging Question

[Harry Heist]

Can a property manager who is fired, transfer the security deposit to the CURRENT OWNER?

 

Do you all think that this is just an obvious “Yes”?

 

If you carefully look at the law, it is in question.  This could just be sloppy drafting of the law.

 

The law clearly says “NEW OWNER”, “NEW AGENT” but does NOT address when an owner will be managing.

 

This issue come up a LOT and if you ask the tenant for PERMISSION to transfer, MANY do not want to give this permission so the agent who no longer manages is stuck holding the funds.

 

(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. There is a rebuttable presumption that any new owner or agent received the security deposit from the previous owner or agent; however, this presumption is limited to 1 month's rent. This subsection does not excuse the landlord or agent for a violation of other provisions of this section while in possession of such deposits.   

 

Harry

 

LAW OFFICES OF 
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website:   <http://www.evict.com/> www.evict.com 
Email:  <mailto:harry at evict.com> harry at evict.com



 <https://www.facebook.com/pages/Heist-Weisse-Wolk-PA/343965575625870> 


Visit us on Facebook

 


 

THIS E-MAIL MESSAGE IS CONFIDENTIAL, ATTORNEY-CLIENT PRIVILEGED, AND INTENDED FOR THE PERSONS NAMED ABOVE ONLY.  ALL OTHER USE, COPYING, OR DISTRIBUTION IS STRICTLY PROHIBITED.

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/landten/attachments/20170821/44d776c9/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 1153 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/landten/attachments/20170821/44d776c9/image001.png>