By: Jay Romano
October 20th, 2011
Q: The multifamily house that I rent in has been sold. What documentation should be drawn to show that the lease and the security deposit have been transferred? My lease had a two-month deposit requirement.
A: Dov Treiman, a Manhattan lawyer who specializes in landlord-tenant matters, says there is generally no need for the tenant to get documentation that the lease and security deposit have been transferred. That is because leases and security deposits are normally transferred to the new owner as part of the sale agreement. Mr. Treiman added that New York law requires the transfer of the security deposit. So it is the new landlord who is responsible for the old security deposits.
To be on the safe side, he said, the tenant could make copies of the lease and the canceled check for the security deposit, and send those to the new landlord with a simple note saying something like, “Enclosed are copies of the current lease and the canceled check for the security deposit.”