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What is a Security Deposit?
A Security Deposit is an amount a tenant pays their landlord when renting the latter's place. This deposit amount is used in case the tenant, during his stay at the rented place, compromises or damages the accessories of the place or the place itself. Usually, the security amount is three to four times the tenant's monthly rent.
Why must a Security Deposit be recovered?
At the time when the tenant wishes to leave his rented accommodation, he can claim his deposited security amount with the landlord, with any possible deductions. The tenant can move from the rented place for whichever reason. But he must provide the notice period of his departure to the landlord one month prior to his leave. This time is extended to the landlord so he can find a new tenant in one month. After the time has elapsed, the tenant is free to leave the rented premises. And the landlord must pay the security amount before the tenant's departure.
What is the Legal Notice for the recovery of the Security Deposit?
The extent of the Notice is such that the issuer can file it against his friend or relative in case they owe you the money. This Legal Notice is very effective in recovering money from people who owe it to you. This Notice is legally binding on the defendant, and the Court can send a summons to him if he fails to refund the security amount. Anyone can file a Legal notice for the security amount recovery, such as:
Majorly, the money gets recovered by sending a Legal Notice for a refund of fee in most cases. There is no need to proceed to Court. Therefore, the plaintiff must draft a well-defined security cheque agreement format letter to ensure the authenticity of the legal Notice to the Payer and increase the chances of recovering your money.
Security Cheque Return Letter Format: You can download the request letter for a refund of the security deposit from a company in India attached to this web page.
Legal Notice draft format for recovery of the Security Deposit in India
The legal Notice for security amount recovery must contain the following:
Letterhead Drafting
The Payee must draft the Notice on an advocate's letterhead, which must be well defined and specific to the situation.
Advocate Details
Advocate Notice Format: The Notice format must contain the residence and contact information of the advocate. The Lawyer Notice Format for Security Deposit Recovery must be followed throughout.
Payer Details
The legal Notice must contain the following details about the Payer:
Payee Details
The legal Notice must contain the Payee's details, such as his name and contact details.
Details of the Committed Infringement
The legal Notice must clearly state how the Payee's rights as a tenant have been violated. It must also mention the wants of the Payee from the Payer or landlord. The Payee must also specify a proper work of action to the Payee in resolving the issue within a time limit.
Refund Deposit Letter Sample Format: You can download the legal notice format to the landlord for a refund of the security deposit attached to this service page.
Procedure for issuing Legal Notice for Deposit Recovery
Legal Notice format Process for recovery of Maintenance Charges
How to draft a security deposit refund letter in India? The procedure for filing a Legal Notice to recover the security deposit is as follows:
Lawyer v/s Court Notice
But what is the difference between lawyer notice and court notice? The lawyer notice is issued to the defendant in order to warn him about the legal consequences if he does not refund the security amount. But the Court's Notice is to summon the defendant to mandate him to pay the amount or serve the punishment.
After this discussion, we suppose now you have an idea about how to draft a formal letter for a security deposit refund in India. For any further queries, you can connect with the Registrationwala.
