I’m getting a new landlord for my commercial rental space. What happens to my security deposit to old landlord

live in state of MO.
commercial rental space

Answer by Emily B
It is supposed to be a part of the sale of the property… old landlord gives it to the new landlord.

This entry was posted by admin on February 19, 2011 at 1:58 am, and is filed under Property Management. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.

#1 written by J K 1 year ago

They usually transfer it across. Can you trust them?

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#2 written by q1mixer 1 year ago

all the deposits will be handed over to the new owner at closing

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#3 written by john_carlton04 1 year ago

your deposit will transfer to the new landlord as will the terms of your existing commercial lease (i.e. don’t expect any big rent hikes until your present contract comes up for renewal)

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#4 written by hunter2 1 year ago

Get a document called an estopell. This supersedes the lease agreement. It is between you and the current owner and can even include info on the new owner. The form just states exactly what your rental fee is and exactly what your deposit is. That the figure is current and accurate. I’d want to have the new owner sign that asap. So that when you vacate you have their sign. on it.

Best of luck, good thinking to ask this question

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#5 written by Dokie 1 year ago

you should of had a lease or something that ensures you and him are protected. if the lease says you get it back then u do. the new land lord can raise the rent or what ever but he has to give you a notice and you will then have to enter into a new lease.

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