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Ash
Ash, Solicitor
Category: Property Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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Do I have grounds to request the full return of my rent deposit

Customer Question

Do I have grounds to request the full return of my rent deposit if the lease on the the agreement has not been dated and finalized by their Solicitor?
Here is a copy of the Deposit document below;
This RENT DEPOSIT DEED is made the day of 2013 and is made BETWEEN:

(1) SUKHVINDER SINGH DIGVA and BHUPINDER SINGH DIGVA and KAVALJEET SINGH
DIGVA of DB House,XXXXX Basford, Nottingham, NG5 1RF (“the Landlord”)
and
(2) IRUBBER LIMITED trading as ‘Invincible’ (Company Number 06705784) whose
registered office is at c/o Ash Accounting Ltd, 44a Gedling Road, Carlton Nottingham, NG4 3FH (“the Tenant”)
and is Supplemental to a Lease (“the Lease”) made today between the Landlord and the Tenant relating to the property on the first floor ofXXXXX Basford, Nottingham, NG7 7FD (“the Property”)

1. The Tenant has paid Four Thousand Pounds (£4,000.00) (“the Initial Deposit”) to the Landlord which the Landlord has placed on deposit in an account designated for this purpose. The Initial Deposit and all later payments into the Deposit Account under this Deed are to be held on the terms of this Deed.
2. The Tenant charges its interest in the Deposit Account with the payment of all amounts becoming due to the Landlord under this Deed but subject to the charge the amount standing to the credit of the Deposit Account (and all accruing interest) belongs to the Tenant.
3. The Landlord can draw upon the Deposit Account to make payment to the Landlord or as the Landlord may direct of amounts equal to:
(i) any rent or other payment due from the Tenant under the Lease (whether or not formally demanded) and not paid within 14 days after the due date for payment;
(ii) any expense or loss properly incurred by the Landlord by reason of any breach of the Tenant’s obligations under the Lease or arising from any forfeiture or disclaimer of the Lease and not paid to the Landlord by the Tenant within 14 days after a written demand for payment;
(iii) interest at the rate provided for in the Lease on amounts under (i) from the due day for payment until receipt by the Landlord from the Deposit Account and on amounts under (ii) from the date when the expense or loss is incurred until receipt by the Landlord from the Deposit Account; or
(iv) costs incurred in relation to payments under (i), (ii) or (iii) or in the operation of the Deposit Account.
4. When any payment is made under Clause 3 which reduces the amount standing to the credit of the Deposit Account (including interest actually added to it by the Bank but not accruing interest) below the Initial Deposit the Tenant agrees within 14 days after a written demand for payment to pay to the Landlord’s solicitors for payment into the Deposit Account the amount (not exceeding the deficit) stated in the demand.
5. If the Tenant makes any assignment of the whole of the Property in compliance with Clause 5.8 of the Lease and procures the assignee to deliver to the Landlord a deed in favour of the Landlord agreeing to the provisions of this Deed and to pay to the Landlord’s solicitor for payment into the Deposit Account an amount equal to the Initial Deposit the Tenant can require the Landlord by written demand to draw upon the Deposit Account to make payment to the Tenant or as the Tenant may direct of the amount standing to the credit of the Deposit Account (including interest actually added to it by the Bank but not accruing interest) at the date of receipt of the demand.
6. The Tenant can require the Landlord by written demand to close the Deposit Account and pay to the Tenant or as it may direct the amount standing to the credit of the Deposit Account (including all accrued interest) at the date specified in the demand being later than the expiry by effluxion of time, forfeiture or surrender of the Lease and at least 14 days after the date of the demand and subject to retention in the account of an amount equal to any outstanding claim by the Landlord under Clause 3 and an estimated account of costs relating to the claim and upon resolution of such claim and costs any residue must be paid to the Tenant or as the Tenant directs.
7. If the Landlord disposes of its reversion to the Lease and procures the transferee to deliver to the Tenant a deed in favour of the Tenant agreeing to the provisions of this Deed the Deposit Account will be held on the trusts of this Deed with the substitution of the transferee in place of the Landlord who will be released from all liability under this Deed arising after the delivery of the deed by the transferee.
8. (a) The rights of the Landlord under this Deed do not limit or replace the rights of the landlord under the Lease;
(b) The liability under the Lease of the Tenant, any guarantor or any other party is not limited to the amount of the Deposit Account;
(c) A breach by the Tenant or any obligation under this Deed is to be treated as a breach of its obligations
Submitted: 3 years ago.
Category: Property Law
Expert:  Ash replied 3 years ago.

Alex Watts : Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here as you will get an email when I respond.
Alex Watts : Has the agreement been signed by both parties yet?
JACUSTOMER-2ixrmli0- :

Thank you but the original expert is on line now

Alex Watts :

ok

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