Hi I have recently sold a buy to let property with tenant in situ. The deposit is registered with DPS & I want to transfer the deposit to new landlord.
Despite several requests via solicitor, the new landlord has not registered with DPS to allow me to facilitate transfer. What can I do?
I don’t want to indefinitely hold the deposit in my name as I no longer own the property. Can I legally return deposit to tenant if new landlord is not responding ?
With DPS a deposit has to be re-registered if the landlord has changed.
The only time it does not need to be reregistered is if you are renewing an AST ( the rent can change but nothing else). Anything else requires a refund and reregistration.
The scheme you are registered with can advise you best. You can call them and ask them and if they advise such write to the solicitor to let him know.
Thanks. The scheme I have registered deposit with does allow transfer of deposit to a new landlord as long as the new landlord registers on the scheme first so they can be given an ID number, which is what I need to complete the process. Only new landlord is not responding!
In that case if you dont own it send the deposit back. You should do this within a month. Then its the new landlords problem
I agree with Colin, you may have to just refund the deposit to the tenant. Check with your conveyancing solicitor first that the deposit transfer to the new owner wasn’t a condition of sale.
Thanks. Property was sold at auction and the deposit details were in legal pack. I’ll email solicitors again but they’ve not been very helpful as sale now completed they’ve got their money.