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Lesson 2:
Tenant Security Deposits

 




§2.10 Interest on Security Deposit

No federal or state law requires that a tenant security deposit be held in an interest-bearing account or that tenants otherwise be paid interest on their deposits. [See §2.06.] Of course, a lease may expressly provide for interest-bearing security deposits; the landlord would have a contractual obligation to accumulate and remit interest for the tenant’s benefit. Additionally, some municipal laws may require interest payments on security deposits.

 

 
 
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