Are security Deposits Tied to Building??

[DaveGlazewski]

My roomate and I are going to trial on a security deposit issue, pro se. Our case against our old landlord is rock solid. Unfortunately, he's been an absentee in court and we're sure collection will be difficult. The building was sold 14 days after we moved out. We are giong to attempt to prove the new owners (who have been named in the case) of the building are liable because the security dep should have been kept in an account tied to the building and not the landlord, and the building was transferred within the 45 days our deposit was to be returned in. The other tenents in the building received their deposits from the new owners, and initially the new owners identified themselves to us as the new owners from whom we'd receive our deposit. I need to know if our jump in logic is correct. In Illinois, Chicago specifically, are security deposits tied directly to the building, and if so, are the buildings liabilities transferred with ownership? Thank You. Dave

 

[HomeGuru]

Security deposits are refunded by the owner of the property.

 

[DaveGlazewski]

Right, so if the building changes hands, the liabilities (and assets) of the building change hands with it. Correct? Any idea where I may find a printable reference for courtroom purposes? Thank you again. Dave

 

[HomeGuru]

Check out the L/T laws regarding the refund of security deposits.
If your deposit was transferred to the new owner, then the new owner owes you the money.
If your deposit was not given to the new owner, then the old owner owes you the money. Check with the new owner and get to the bottom of this.