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Security Deposit

Posted by Pete on March 11, 1999 at 18:04:19:

Thanks to all who offered advice to my previous posting. After speaking
with several of the parties involve in my situation, I am still confused.
Here's my situation.

I currently rent an apartment in three-story brownstone in Brooklyn.
My original landlord lost the building in foreclosure. Shortly thereafter,
I received notice stating that all future rents should be paid to "XYZ"
Capital, Inc., who now manage/own the building. "XYZ" has asked me to move
out because they have a someone who wants to buy the building vacant. They
have offered me another apartment in another building they manage as well
as moving expenses. HOWEVER, when I asked about my security deposit, they
said I would have to try and collect that from my original landlord and
that they were not responsible for it. Evenmore, they said I would have to
come up with another security deposit if I want the apartment in their

I asked my original landlord and he told me that the new owners were
responsible for my deposit, not him. He says the new owners must honor the
lease I signed with him at least until it expires. The new owners say the
lease is invalid due to the foreclosure.

I'm confused and have already made an appointment with a lawyer, but thought
I would ask you for any info you might be able to shed on my situation.

I don't mind moving into another apartment especially since the new owner
has offered to help with the move. BUT, I do mind having to deal with
another security deposit. I feel quite exposed as noone seems to be dealing
honestly with me.

Again, thanks in advance for you help

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