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Transfer of Deposit

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Author Topic: Transfer of Deposit  (Read 170 times)
Newbie
Posts: 5

I like property

« on: February 01, 2022, 08:35:08 AM »

I have a situation where a property was sold with tenants in situ and it looks like the deposit wasn't transferred from the old landlord to the new landlord.

In trying to unravel what happened (or didn't happen) it would help to know whose legal responsibility was it during the property sale to ensure the deposit was transferred.

There was also a change of agent at the time of the property sale.

Thank you.
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« Reply #1 on: February 01, 2022, 10:42:24 AM »

The Landlord at the time of sale.
Newbie
Posts: 5

I like property

« Reply #2 on: February 02, 2022, 11:45:06 AM »

Thank you. I will follow up with the solicitor.
Newbie
Posts: 5

I like property

« Reply #3 on: February 02, 2022, 02:23:23 PM »

I have contacted the solicitors who tell me solicitors do not deal with the transfer of deposits, this would be done by the letting agent. Is this correct?
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« Reply #4 on: February 02, 2022, 02:32:41 PM »

You asked who was legally responsible. I never said it was a Solicitor, so I don't know why you went that direction.

It's the Landlord "in the chair" who is legally responsible. If they had an Agent then you can say they should do things pertaining to the Deposit, but they're not legally responsible... and they're likely crap and disinterested.

Think about it - it can't be the Landlord buying the property... they have no ability to "pull" the Deposit. For the same reason it can't be their Agent. It can't be any side of Conveyancing as they'll likely unaware and - as you've been told - they don't do that anyway.

We've ruled everyone else out?

Well... the Tenant... but it's 100% not them.  :) So it's the Landlord who owns the property at the time of sale... they're the only party who has the ability (never mind the responsibility) to do anything with the Deposit (their Agent could manage it on their behalf, obviously... but still not legally responsible - it's the Landlord).
Newbie
Posts: 5

I like property

« Reply #5 on: February 02, 2022, 08:21:11 PM »

Right, so it's a letter to the seller then.
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