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I rent an apt. and the building (small) was just sold. I signed a new lease with the new owner and the security deposit I paid is acknowledged. He is not sure he got the SD transferred to him at sale.
I'm thinking, I don't have anything to worry about, right? Property was owned by a trust before, and managed by PM companies (2 or 3 since I moved in). So I think he is getting the run around about where the SD is. I would think his realtor or lawyer would be able to help him but he is somehow implying that I am the one who needs help.
I think it's his problem, but it may become yours if he never actually gets it and it comes time to give you your security deposit back. He may be legally liable, but if he says he never got it, it may take legal action and time in court before you get it back. Or, he may be extra picky about all sorts of damages at your move-out inspection to try to deduct as much as possible from that security deposit.
There is no reason for him to think you need the help, he needs to do his job and get it figured out.
I'm thinking, I don't have anything to worry about, right? Property was owned by a trust before, and managed by PM companies (2 or 3 since I moved in). So I think he is getting the run around about where the SD is. I would think his realtor or lawyer would be able to help him but he is somehow implying that I am the one who needs help.
Assuming from your screen name that this is happening in Vermont, according to the Vermont security deposit statute:
4461. Security deposits (f) Upon termination of the landlord's interest in the dwelling unit, the security deposit shall be transferred to the new landlord. The new landlord shall give the tenant actual notice of the new landlord's name and address with a statement that the security deposit has been transferred to the new landlord.
The word "shall" creates a binding obligation on both landlords.
It's your new landlord's problem, not yours.
Feel free to send him (by mail, with proof of delivery, - not text or email) a copy of the statute advising him that he is not in compliance and it is, indeed, his problem.
I would also caution you to study the entire landlord-tenant statute and know your rights:
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