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I Have A Separate Security Account For Security Deposits...can I Withdraw And Use The Money And Then Put It Back Into The Account? Someone Told Me This Is Illegal. I Live In New Mexico
Someone told me I can not use the money from my security account for maintenance on my mobile home park. I live in New Mexico and the park is in New Mexico. I will take out money and then put it back in.
asked 4 months ago
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Most landlords I know at some time have used the security deposits for 'other'uses. They have just been careful to make sure that the funds have been available to return to the renters or tenants should they become due. It all depends on how you plan to fund the repayment of these deposits and in a timely manner.
answered 4 months ago
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