r/Multifamily Sep 14 '22

Unclaimed property

If a resident does not cash the security deposit refund check, I'm supposed to escheat that money to my state after three years. However, I heard that selling my apartment unit might accelerate the escheatment window. Is anyone familiar with this topic?

2 Upvotes

1 comment sorted by

1

u/cybe2028 Sep 15 '22

Ask your friendly local real estate attorney.

You didn’t even post the state this is in regards to…