Legal Spring Logo

"Reviewing every type of legal service"
Reviewing Legal Services Online
 LEGAL SPRING
     


Google
 
Refund of Deposit on Loft in NYC



zbower@msn.com (Zach Bower)
10/16/2003 7:36:02 AM


I just applied to live in a live/work loft w/ a commercial lease in
Brooklyn, NYC. After sleeping on it, I've decided to rescind my offer
because I don't feel I will have the proper tenant rights given the
lease is commercial.
The problem is I paid $550 to the broker, a $500 deposit and $50
application fee. They verbally told me that I could get all my money
back if someone backs out but the document I signed stated all rental
and application fees are "NON-REFUNDABLE". On the same paper, the
$500 is listed as a deposit though so it seems this should be
refundable. Is there something I need to do NOW to protect myself
besides speaking with the broker? I did not fill out the lease, just
an application w/ the deposit. I've heard that in some areas, you
have a certain amount of time to rescind a contract and I want to make
sure I act on this.
Any information is much appreciated. Thanks.
Zach
 
 
Stan Brown
10/17/2003 6:09:36 PM


In article <ki0tov4bu3gurhbbgdvsqk4t8mt7hqun3d@4ax.com> in
misc.legal.moderated, Zach Bower <zbower@msn.com> wrote:
I just applied to live in a live/work loft w/ a commercial lease in
Brooklyn, NYC. After sleeping on it, I've decided to rescind my offer
because I don't feel I will have the proper tenant rights given the
lease is commercial.
The problem is I paid $550 to the broker, a $500 deposit and $50
application fee. They verbally told me that I could get all my money
back if someone backs out but the document I signed stated all rental
and application fees are "NON-REFUNDABLE". On the same paper, the
$500 is listed as a deposit though so it seems this should be
refundable.
"Deposit" does not mean "refundable" unless it says so. In this
instance, since it was labeled as non-refundable (which you knew
when you signed the document), it means "pre-payment".
As far as I can see, you rented space to live and work in, began
occupying the place, and have now changed your mind. Assuming that
it's legal to lease the space for that purpose, I don't see that you
have any grounds for backing out.
See disclaimer in sig. In this case you might want to show your
lease to a tenants' rights organization in the city. Maybe they'll
see a loophole.
--
If you e-mail me from a fake address, I'll delete it unread.
I am not a lawyer; this is not legal advice. When you read anything
legal on the net, always verify it on your own, in light of your
particular circumstances. You may also need to consult a lawyer.
Stan Brown, Oak Road Systems, Cortland County, New York, USA
http://OakRoadSystems.com
 
 
Report this post for offensive content


site map |  disclaimer |  privacy
All Rights Reserved, Legal Spring, Inc. 2004