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My wife and i recently put down a security deposit on a home…

My wife and i...

My wife and i recently put down a security deposit on a home for rent of $1600, but before we turned in the lease we found another home and moved in. When we tried to get the deposit for the first home back, the leasing office told us that we cant get it back. They said that by law once we make a deposit the house is ours and we are out the money, is this true?

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

Maryland

Lawyer's Assistant: What are the terms of the lease? Any issues related to maintenance or upkeep?

No, we never actually moved into the home. We put down a deposit to rent if but found something else before we ever signed the lease.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No I think that is it

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Answered in 3 minutes by:
11/9/2017
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,644
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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They said that by law once we make a deposit the house is ours and we are out the money, is this true?

.

Unfortunately, if you paid a deposit for the property, you are legally agreeing to rent it under whatever terms were discussed. However, if there is no written lease signed, it would automatically be a month to month tenancy by default.

.

So if you notify them that you are not taking the property and breaking the oral tenancy agreement, then they would have a legal duty to try and re-rent to someone else. If they did so, they can only retain enough deposit to cover their lost rent or one month's rent in total.

.

I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

.

.

thanks

Barrister

Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,644
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified
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Barrister
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,644
41,644 Satisfied Customers
Experience: 17 years real estate, Realtor. Landlord 26 years

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