A Vermont licensee is asked about a landlord fails to return the deposit or statement in time. What is the best answer?
Correct Answer
D) The landlord forfeits the right to withhold any portion, and willful failure can expose the landlord to double the amount wrongfully withheld plus attorney fees
Vermont security deposit law provides forfeiture for failure to comply and double damages plus attorney fees for willful failure. Source basis: 9 V.S.A. Section 4461, Vermont Statutes Online, checked 2026-04-30
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Related Topics & Key Terms
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Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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