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co-mingling of security deposits

Posted by Barbara Burger on September 19, 1997 at 10:15:48:

We (myself and the tenants in my building) strongly believe that the landlord
has co-mingled security deposits with his own money. We also believe he may
have already used our deposits for construction on the building. He will not
give us any info as to where this money is in trust for us. There is a lot of
money at stake here (2 months security for 1 apartment and 2 months plus last
months rent(?) for the other). Our building has just 3 apartments and the landlord
is not in residence. Doesn't he have to keep our deposits in trust for us.
They may not have to be in interest bearing accounts but they do have to
be kept separate; is this true? What is our recourse in this area?

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