If a security deposit is not transferred to the receiver or to the purchaser at a foreclosure sale, is the landlord liable to the tenant for its return?
"New York", United States of America
The following excerpt is from Bayside Plaza Assoc. LLC v. Deli Bizz 24 Inc., 2007 NY Slip Op 50288(U) (N.Y. Civ. Ct. 1/8/2007), 2007 NY Slip Op 50288 (N.Y. Civ. Ct. 2007):
Coyne v. Hermitage Co 165 Misc 624 [Sup Ct NY County [1937]. ) Thus, if the security deposit is not transferred to the receiver or to the foreclosure sale purchaser, neither they nor any subsequent owner/lessor has liability to the tenant for its return. (Central Sav Bank v. Fashoda, Inc, 94 AD2d 927 [3rd Dept 1983] aff'd 62 NY2d 721 [1984].)
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