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In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
A security deposit is a sum of money held in trust. [ 1 ] In leasing, security deposits, also known as "rent deposits", [ 2 ] are required most often by lessors of automobiles , residential property, and commercial real estate .
And a landlord must state the reason to the renter for why his or her security deposit is being withheld. Landlord.com has a list of security deposit laws in all 50 states to help you find the ...
Often, the contract is structured in two parts, one representing the lease term and the other a contract of sale. As is usually stated in the lease purchase contract, the option fee and accrued rent credit are both non-refundable should the tenant/buyer decide to walk at the end of the lease.
The two young women who showed up with checks to rent the third-floor apartment in our building seemed nice. My husband, who is the caretaker of several apartments his family owns, took their ...
Return-to-office mandates: Why tax breaks are not a reason for companies in states such as Texas, Utah, and New Jersey to force employees back Jim Small October 9, 2023 at 5:38 AM
A deposit-refund system (DRS), also known as deposit-return system, advance deposit fee or deposit-return scheme, is a surcharge on a product when purchased and a rebate when it is returned. A well-known example is when container deposit legislation mandates that a refund is given when reusable packaging is returned.
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