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Want re attorney familiar with FL law, specifically Palm…

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Want re attorney familiar...

Want re attorney familiar with FL law, specifically Palm Beach County

Lawyer's Assistant: Has anything been filed or reported?

Want atty in west palm beach familiar with real estate law

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

FL

Submitted: 5 months ago.Category: FL Real Estate
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Customer reply replied 5 months ago
I want to know what rules are for depositing advance rent paid for a 6 month lease in west palm beach county. I have opened separate account for security deposit, but have deposited advanced rent in an account in my name, and name of condo i am renting out. Can i invest this advance rent amount, or must i keep it in a standard bank checking account?
Answered in 3 days by:
11/26/2017
Lawyer: N Cal Atty, Lawyer replied 4 months ago
N Cal Atty
N Cal Atty, Lawyer
Category: FL Real Estate
Satisfied Customers: 9,657
Experience: attorney at self
Verified

Thank you for your question.

You can get a free consultation from some of the local real estate attorneys listed here.

The Experts here can answer general questions but cannot give legal advice. Feel free to post a question here if you wish.

I hope this information is helpful.

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Lawyer: N Cal Atty, Lawyer replied 4 months ago

For some reason your question did not display before.

Here is the statute.

It is too long to quote all of it, but it starts:

83.49 Deposit money or advance rent; duty of landlord and tenant.—

(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:

(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord;

(b) Hold the total amount of such money in a separate interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants, in which case the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord; or

///

As you can see from the statute, rent paid in advance is treated as part of the security deposit, so the answer is No, you cannot invest it.

I hope this information is helpful.

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Customer reply replied 4 months ago
I asked for attorney based in Palm Beach County familiar with local laws.
Lawyer: N Cal Atty, Lawyer replied 4 months ago

The statute seems pretty clear and I gave you a link to find local landlord tenant attornys. JustAnswer does not have attorneys in every town but we do have some in Florida. If you want me to opt out I can do that and you can wait for one of the Florida law experts to take over.

Ask Your Own FL Real Estate Question
Customer reply replied 4 months ago
PLs opt out - I want attorney in my county only. Thank you
Lawyer: N Cal Atty, Lawyer replied 4 months ago

Done.

Ask Your Own FL Real Estate Question
Customer reply replied 4 months ago
Thank you, ***** ***** read question thoroughly before responding, I specifically asked for a PALM beach country attorney in my 1st inquiry.
Lawyer: Law Educator, Esq., Attorney replied 4 months ago
Law Educator, Esq.
Category: FL Real Estate
Satisfied Customers: 123,281
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified

Thank you for your request, but you seem to misunderstand the nature of this service. We do not supply attorneys in specific states or counties because we do not provide legal representation. We provide information to customers based on their questions and their state laws, but if you want an attorney from your county only, then you need to go to a site like http://www.hg.org

and find one locally and schedule an appointment with them.

Sorry, but how you may have thought this service worked or how you wanted it to work is not how it works. We would be glad to continue answering your questions based on FL law or you can let us know and I will notify customer service that you would like a refund.

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Law Educator, Esq.
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: FL Real Estate
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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