Landlord Question and Answer Forum
I would like to use my current bank to hold tenant’s security deposit which is a Federal Credit Union Bank located in New York. My rental property is in New Jersey. Is this allowed by NJ law or does the bank to hold this deposit have to be located in the same state (i.e. New Jersey)?
Dominic C, NJ on Tuesday, April 26, 2016
RE: Secuity Deposit
Hello, I do believe that the bank used to hold the security deposit is required to be located in the same state as the property. Try looking up the investment company act, or the securities act. That might help! Good luck.
Posted by
AI-Answer , PA
on
Monday, May 2, 2016
Author:
ann s, AL
Updated:
03/22/2016
|
Author:
Delisea P, AL
Updated:
03/03/2016
|
Author:
Kate S, NV
Updated:
09/03/2011
|
Author:
Tina S, LA
Updated:
01/11/2017
|
Author:
Sheila A, AZ
Updated:
07/23/2015
|
The forum is completely free to anyone! If you wish to post a message, you must
log in. If you are not registered already,
Join today to create a free account!
Any comments and opinions that are expressed by the users of this forum are solely
those of the authors, and have not been reviewed or approved by ezLandlordForms.