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Old 10-10-2007, 06:42 PM
NT! NT! is offline
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Default Re: Ask DrewDevil your legal questions

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3. my parents have been renting the same apartment for almost 15 years. they put $1500 down as a security deposit and last month's rent. by law this is supposed to go into an interest-bearing account. if this hasn't happened, can they sue after the fact to get what the money would have earned? or is it best to let it be so long as they get their deposit back in full?

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i was under the impression that the security deposit into an interest bearing account thing was a relatively new law (but maybe i was getting screwed by my old landlord). it varies by state.

i probably wouldn't bother if it was for a year's worth of interest, but if we're talking about 15 years, that should roughly double their money, that's probably worth pursuing.
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