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security deposit in escrow

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J

JNolen

Guest
What is the name of your state?What is the name of your state?PA
I set up an escrow account for a tenants security deposit requiring the signature of both the Landlord and the Tenant. The Tenant has now purhased the house and the security deposit was used for the last months rent. When I went to the the bank to close this account they needed the tenant to come in to sign in order to release the money. The tenant lives 6 hours away. Per the banks instruction, I sent him a letter with a deposit slip and requested he sign and send a copy of his drivers license. Two phone calls later and still no response. What else can I do?
 


HomeGuru

Senior Member
JNolen said:
What is the name of your state?What is the name of your state?PA
I set up an escrow account for a tenants security deposit requiring the signature of both the Landlord and the Tenant. The Tenant has now purhased the house and the security deposit was used for the last months rent. When I went to the the bank to close this account they needed the tenant to come in to sign in order to release the money. The tenant lives 6 hours away. Per the banks instruction, I sent him a letter with a deposit slip and requested he sign and send a copy of his drivers license. Two phone calls later and still no response. What else can I do?

**A: and what did the bank tell you when you asked them?
 
J

JNolen

Guest
The bank refuses to release the money without his signature. My last contact was with the bank manager.
 

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