What is the name of your state (only U.S. law)?New York
Although I had intended to sell my house in New York City, I recently agreed to rent it to a "charming" couple with a small child. They signed a lease to take tenancy on February 1 and sent by U.S. mail two checks (security + 1st month's rent) to my home in Florida. I deposited the security check into a segregated account and the rent check into my personal accoount. Lo, and behold, the checks boounced. In the interim, I turned away two offers to purchase and one to rent my house since I felt bound to honor my agreement with the couple while awaiting the signed lease and checks. What recourse(s) do I have?
Although I had intended to sell my house in New York City, I recently agreed to rent it to a "charming" couple with a small child. They signed a lease to take tenancy on February 1 and sent by U.S. mail two checks (security + 1st month's rent) to my home in Florida. I deposited the security check into a segregated account and the rent check into my personal accoount. Lo, and behold, the checks boounced. In the interim, I turned away two offers to purchase and one to rent my house since I felt bound to honor my agreement with the couple while awaiting the signed lease and checks. What recourse(s) do I have?