Landlord Tenant Closing Statement to Reconcile Security Deposit - Indiana 2025

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  1. Click ‘Get Form’ to open the Landlord Tenant Closing Statement in the editor.
  2. Begin by entering the Landlord's name and the leased premises address at the top of the form. This information is crucial for identifying the parties involved.
  3. Fill in the tenant's information, including names, forwarding address, and new phone number. Accurate contact details ensure smooth communication.
  4. In the Security Deposit section, input the amount paid, any other deposits made, and applicable rent credits. This will help clarify financial transactions.
  5. List any cleaning charges or damage repairs under 'Charges to Deposit and Credits.' Be specific about each charge to maintain transparency.
  6. Calculate total charges including unpaid rent and late fees. Ensure all amounts are accurate for a fair reconciliation.
  7. Finally, indicate amounts due to both tenant and landlord, add comments if necessary, and sign the document. Don’t forget to include delivery date.

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You can sue for the amount of the security deposit that your landlord wrongfully withheld, up to the state limit. The maximum amount for which you can sue in California Small Claims Court is $10,000.
Its essential to know what cannot be deducted from a tenants security deposit. Prohibited deductions include: Normal Wear and Tear: Deductions for minor wear and tear, such as small scuffs on walls or loose doorknobs, are not permitted.
At the end of your tenancy Your landlord must return your deposit within 10 days of you both agreeing how much youll get back. If youre in a dispute with your landlord, then your deposit will be protected in the TDP scheme until the issue is sorted out.
As per law, the landlord can deduct arrears or major repair expenses from the security deposit before refunding the rest to the tenant. Tenants cannot claim a security deposit refund in cases of rent agreement renewal. The refund amount is only returned if the tenant vacates premises after tenure expiry.
A tenancy deposit cannot usually be more than 5 weeks rent.
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Security deposits should be listed on a closing statement as a credit to the Buyer. This represents the buyer receiving the funds back as they fulfill their contractual obligations.

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