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agarzillo, Both Buyer and Seller in 11231

How do I figure out what the interest is on security deposit that is being held?

Asked by agarzillo, 11231 Wed Jun 6, 2012

My uncle who recently passed away and left things in a mess for me, owns a property and one of the tenants is moving out. He never kept his security deposits in a separate account and now I do not no how to find out what the interest owed is. Please help

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This happened to me once in a Bklyn NY property I owned. What I did was get the tenant lease, to have the move in date. I went to customer service in a neighborhood bank that I banked in. I asked them to configure the interest for me from that year till now on the based on the security deposit amount that should of been in the bank. It was great. They provided me with a print out too in case I had to go to court and the use the computer to calculate everything. It was done one, two three, for me. All I had to do was make a copy of the print out to give to the tenant with a check as proof of the money being returned to them with interest. Hope you get this in time. I was just scanning and reading today and stumbled across this.
0 votes Thank Flag Link Sat Jun 30, 2012
See link below for helpful information, for any necessary legal advice consult with an attorney who specializes in real estate...
http://www.ag.ny.gov/sites/default/files/pdfs/publications/T…
0 votes Thank Flag Link Wed Jun 6, 2012
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