Security Deposit

Money paid by a tenant to a landlord at the beginning of a lease to cover potential damages or unpaid rent. The deposit is typically returned at the end of the lease if the property is in good condition.

Used in these documents:

Lease Agreement

Related Terms:

Lease

A contract between a landlord (lessor) and tenant (lessee) that grants the tenant the right to use property for a specified period in exchange for rent payments. The lease outlines terms, conditions, and responsibilities of both parties.

Disclaimer

This definition is for informational purposes only and does not constitute legal advice. Consult a licensed attorney for specific guidance.