Property Management
A Wisconsin landlord who wrongfully withholds a security deposit may be liable to the tenant for:
AThe deposit only
BDouble the wrongfully withheld amount plus attorney's fees✓ Correct
CTriple damages
DNo penalty if the landlord provides written explanation
Explanation
Under Wisconsin DATCP rules and case law, a landlord who wrongfully withholds a security deposit may be liable for double the amount wrongfully withheld plus reasonable attorney's fees.
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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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