Foreclosure Purchasers Liable For Refund Of Tenant Security Deposits In California
- Civil Code Section 1950.5 states that the property's new owners "shall be jointly and severally liable with the landlord for repayment of the security" deposit. That means that if the previous owner/landlord doesn't follow the law and return the security deposit, then the new owners have to pay the tenant what is owed. In [this tenant's] case, that was $1,000.
After being contacted by The Bee, the foreclosing mortgage holder and now new owner sent the tenant a check for $1,000. For more, see New owners liable for refunding deposit. equity skimming unwittingly gamma
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