Jungle Property Blog

If a landlord sells a rented property can he transfer the security deposit?

My understanding is that if a rented property is sold the deposit can be transferred if it is in a custodial scheme (i.e. DPS) but not if the deposit had been placed in an insurance based scheme. If it was in a custodial scheme I guess the 30 day rule would apply. If a landlord/agent knows the property will be sold at some stage then the custodial scheme seems the best bet.

Does anyone know different?

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *