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What are tenants Right over the Security Deposit
31-Aug-2023 (In Landlord/Tenant Law)
I have recently purchased property in October 2016 from seller, previous owner has paid a security deposit of 25000/- towards water connection to residential welfare society. Last week I received a communication from welfare society that they are refunding the amount back to owners as water connection has been approved by govt. Now my question is who has right towards to claim on the refund amount is it previous owner or me ? When property value was ascertained while selling it was shown as amount invested on property thought there was no agreement nor discussion on this particular transaction. My point is since ownership has been transferred all liabilities and assets of property belongs to me ...Please advice
Once a property is registered, it means that the property buyer in whose favour the property is registered will become the lawful owner of the property and is fully responsible for it in all respects (liabilities and assets). But in your case the security deposit was made by the previous owner and not you so they would have the right over it.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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