Our partner, Glenn H. Spiegel was quoted in the Real Estate Section of Sunday's New York Times .
Here's the piece in its entirety:
After the Death of a Stabilized Tenant
Q My wife's father died recently. He lived in a rent-stabilized apartment for over 25 years, and he paid the rent for the month in which he died. Now the landlord refuses to return my father-in-law's security deposit to his daughter, my wife. Does the landlord have the right to keep this deposit?
A Glenn H. Spiegel, a Manhattan real estate lawyer, says that a residential tenant, whether stabilized or not, is entitled to the return of a security deposit, together with accumulated interest, after the apartment has been surrendered to the owner. "Of course," he added, "a landlord may keep all or a portion of the money in the event there is a lease-related default, such as unpaid rent, or any damage to the unit beyond reasonable wear and tear."
Mr. Spiegel said that although the father paid rent for the month in which he died, his estate would usually be liable for the balance of the lease term. So unless the landlord is willing to accept a surrender of the apartment, and release the estate from liability, the request for the return of the deposit may be premature. Mr. Spiegel noted that the landlord would be wise to release the money only to an authorized representative of the former tenant's estate. Unless the daughter can prove that she has that authorization, the landlord is justified in holding the funds until an official representative of the estate -- like an executor or administrator -- has been approved by the Surrogate's Court.