2012 Returning Security Deposits Electronically
Not surprisingly, laws are slowly changing to keep up with the electronic times. The passage of California Assembly Bill 1679 is an example of this.
Under the new law, the landlord may wire a security deposit refund, after deductions, directly to a bank account designated by the tenant. Furthermore, the final deposit itemization statement and supporting documents can be sent to an e-mail account provided by the tenant. This law was approved by the Governor in September 2012 and takes effect January 1, 2013. To see a copy of the entire text of the new security deposit law with these changes, click here.
© 2012 by Fried & Williams LLP. All Rights Reserved. The information contained in this article is general in nature. For advice on any particular matter, please consult with our attorneys because the facts of your situation may be unique and the law changes from time to time.