Q: Am I required to show proof of depositing the tenants security deposit? I provided only bank name and location.
After I provided the bank and location, tenant asked for proof of deposit or they will take legal action. My deposit account is called Security Deposit acct in a fed insured DE bank
A:
You are not required to show proof that the security deposit was actually deposited. Here's what the statute says:
Each security deposit shall be placed by the landlord in an escrow bank account in a federally-insured banking institution with an office that accepts deposits within the State. Such account shall be designated as a security deposits account and shall not be used in the operation of any business by the landlord. The landlord shall disclose to the tenant the location of the security deposit account. The security deposit principal shall be held and administered for the benefit of the tenant, and the tenant's claim to such money shall be prior to that of any creditor of the landlord, including, but not limited to, a trustee in bankruptcy, even if such money is commingled.
A:
You are not required to show proof that the security deposit was actually deposited. Here's what the statute says:
Each security deposit shall be placed by the landlord in an escrow bank account in a federally-insured banking institution with an office that accepts deposits within the State. Such account shall be designated as a security deposits account and shall not be used in the operation of any business by the landlord. The landlord shall disclose to the tenant the location of the security deposit account. The security deposit principal shall be held and administered for the benefit of the tenant, and the tenant's claim to such money shall be prior to that of any creditor of the landlord, including, but not limited to, a trustee in bankruptcy, even if such money is commingled.
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