Property Management
Under NH's Landlord-Tenant Act, a landlord who wrongfully withholds a security deposit may be liable for:
AReturning only the original deposit
BThe deposit amount plus potential additional damages and legal fees under RSA 540-A✓ Correct
COnly an apology
DA $50 fine to the NHREC
Explanation
RSA 540-A penalizes landlords who wrongfully withhold security deposits. Landlords may owe the tenant the deposit plus double damages and attorney's fees in egregious cases under NH law.
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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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