Property Management
Which of the following is NOT a legitimate deduction from a Minnesota residential security deposit?
ADamage to the property beyond normal wear and tear
BUnpaid rent
CNormal wear and tear from ordinary use✓ Correct
DCleaning costs for a unit left in unusually dirty condition
Explanation
Normal wear and tear—the natural deterioration from ordinary, reasonable use of the property—is NOT a legitimate deduction from a security deposit in Minnesota. Landlords can deduct for actual damage (beyond normal wear), unpaid rent, and excessive cleaning costs, but not for normal aging of the property.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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