Vermont's security deposit law limits deposits to:
Correct Answer
C) No statutory limit exists
Vermont state law does not impose a statewide dollar or month-of-rent cap on residential security deposits under 9 V.S.A. § 4461. The statute governs permitted deductions and return deadlines, including the 14-day return rule, but it does not set a statewide maximum deposit amount. Local ordinances may add rules if they are not inconsistent with state law.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
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