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Florida Real Estate Course
Chapter 8
Florida Real Estate Practice Question
An owner of a rental building changes management companies. What must happen with tenants' security deposits, which the old management company is holding in their escrow account?
Answer choices
A
Send refund to tenants, provide final accounting showing the amounts that was credited back to each tenant.
B
Transfer the money to the new management company with a final accounting showing the amounts to be credited to each tenant’s account.
C
Ask tenants if they would like to receive a refund or to credit the funds to their accounts with the new management company.
D
Keep the money in escrow until the end of the lease.
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