A landlord in California collects a security deposit from a tenant. After the tenant moves out, under California Civil Code §1950.5, how many days does the landlord have to return the security deposit or provide an itemized statement of deductions?
Correct Answer
D) 21 days after the tenant vacates
Under California Civil Code §1950.5(g), the landlord must return the security deposit or provide an itemized statement of deductions within 21 days after the tenant has vacated the premises. This is a strict deadline, and failure to comply may result in the landlord forfeiting the right to claim deductions.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
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