<div dir="ltr">Would possession act to perfect? Depends. If it is in a bank account of the landlord, then per UCC 9-313, it is in a “deposit account” (UCC 9-102(29)). Under 9-313 a deposit account is excluded from entitlement of perfection by possession alone (see official comment 2 to 9-313). But, if the landlord is the bank’s customer and is the secured party under the lease, then it is “control” (not possession) by which UCC 9-104(a)(3) provides that “the secured party becomes the bank’s customer with respect to the deposit account” and would under UCC 9-312 (see official comment 5) have perfection by that control unless the deposit was in the nature of a certificate of deposit or other “instrument”. It is “control”, not “filing” that perfects an interest in a “deposit account”. If the security deposit is not in a “deposit account", then it is my view that neither possession nor control would give rise to perfection against third parties, and the Landlord would have to perfect by a filing. Hopefully for the landlord, the security deposit is in a deposit account which he controls.</div><div class="gmail_extra"><br><div class="gmail_quote">On Thu, May 11, 2017 at 11:02 AM, Lloyd Granet <span dir="ltr"><<a href="mailto:lgranet@granetlaw.com" target="_blank">lgranet@granetlaw.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d">It does not seem possible that as a result of a garnishment order that they someone could have greater rights than the tenant. The tenant is not entitled to
return of the deposit as landlord holds it for security of its obligations. <u></u>
<u></u></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d">Bob wouldn’t possession act to perfect?
<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d"><u></u> <u></u></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> <a href="mailto:landten-bounces@lists.flabarrpptl.org" target="_blank">landten-bounces@lists.<wbr>flabarrpptl.org</a> [mailto:<a href="mailto:landten-bounces@lists.flabarrpptl.org" target="_blank">landten-bounces@lists.<wbr>flabarrpptl.org</a>]
<b>On Behalf Of </b>Bob Wunker<br>
<b>Sent:</b> Thursday, May 11, 2017 10:50 AM<br>
<b>To:</b> RPPTL Landlord Tenant Committee <<a href="mailto:landten@lists.flabarrpptl.org" target="_blank">landten@lists.flabarrpptl.org</a><wbr>><br>
<b>Subject:</b> Re: [RPPTL LandTen] Security deposits<u></u><u></u></span></p><div><div class="h5">
<p class="MsoNormal"><u></u> <u></u></p>
<div>
<p class="MsoNormal">While the landlord ought have a security interest in the deposit during the term of the lease, the landlord probably did not obtain a perfected security interest by filing a UCC-1.<u></u><u></u></p>
<div>
<p class="MsoNormal"><u></u> <u></u></p>
</div>
<div>
<p class="MsoNormal">Bob Wunker<u></u><u></u></p>
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<p class="MsoNormal"><u></u> <u></u></p>
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<p class="MsoNormal">On Thu, May 11, 2017 at 10:35 AM, David Weisman <<a href="mailto:David.Weisman@gmlaw.com" target="_blank">David.Weisman@gmlaw.com</a>> wrote:<u></u><u></u></p>
<blockquote style="border:none;border-left:solid #cccccc 1.0pt;padding:0in 0in 0in 6.0pt;margin-left:4.8pt;margin-right:0in">
<p class="MsoNormal">It seems that during the term of the Lease, the Landlord has a security interest in the SD. After it is returnable, the creditor can get at it.<br>
<br>
David Weisman<br>
Board Certified Real Estate Lawyer<br>
Greenspoon Marder, P.A.<br>
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-----Original Message-----<br>
From: <a href="mailto:landten-bounces@lists.flabarrpptl.org" target="_blank">landten-bounces@lists.<wbr>flabarrpptl.org</a> [mailto:<a href="mailto:landten-bounces@lists.flabarrpptl.org" target="_blank">landten-bounces@lists.<wbr>flabarrpptl.org</a>] On Behalf Of Todd Allen<br>
Sent: Thursday, May 11, 2017 9:51 AM<br>
To: <a href="mailto:landten@lists.flabarrpptl.org" target="_blank">landten@lists.flabarrpptl.org</a><br>
Subject: [RPPTL LandTen] Security deposits<br>
<br>
Has anyone dealt with a garnishment served on the landlord? The creditor is trying to grab the security deposit. I’m not able to find anything saying it cannot be grabbed by the creditor, so I assume it’s free game.<br>
<br>
Does anyone have any conflicting insight?<br>
<br>
Thanks<br>
<br>
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