Q: My NJ tenant moved out 12/1 I'm ready to mail sec dep refund but she has not given me her new address in CO Can I keep?
Is there a statue of limitations on the length of time it takes her to give me her new address before I can keep the deposit?
A: You would be unable to keep the deposit. The money is not yours. There are procedures to turn the money over to the State of New Jersey as unclaimed funds. It is important to follow those procedures properly. Not handling a security deposit properly can lead to your former tenant having grounds to file suit against you. If you are unsure of how to proceed consider consulting a landlord-tenant lawyer to ensure that you properly handle the security deposit.
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