Q: Am I bound to pay back a security deposit outlined in a promissory note I signed if I don’t end up signing the lease?
Am I bound to pay back a security deposit in a promissory note I signed if I don’t end up signing the lease? I was in contact with the previous renter (he was the one who posted the online ad, as he was leaving his lease early) regarding application materials (he cc’d the apartment’s leasing office when he sent application forms); with these, he sent a promissory note that binds me to pay him the security deposit he would have lost. In the case we decide not to sign the lease am I still legally bound to pay? The note doesn’t mention the lease, but it does say I “received” money to pay back.
A: Maybe a lawyer would need to read the documents before giving you an answer.
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A: You need to have an attorney read the document before a meaningful answer can be given.
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