Tenant’s Security Deposits: Liability of Former Landlord and New Owner After Sale of an Occupied Project
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Tenants pay security deposits to ensure landlords that they will perform the obligations imposed by their leases, and they expect to recover those deposits when they surrender the premises. This article discusses the Texas statute and the common-law background that applies to transfers of the landlord's reversion. The purpose of this discussion is to determine how the statutory solution works and to harmonize the statute's policies with a common-law background that may assist in interpreting the statute. Such an interpretation would allow extension of the statute's protective policies into nonresidential deposit disputes.