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Security deposit addendum

Lease deposit 2026

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The document is a Security Deposit Addendum outlining the terms regarding the handling of a security deposit associated with a rental agreement. It specifies that the deposit will remain with the Lessor until all tenants vacate and financial obligations are met. The original tenants must choose one of three options for how the deposit will be disbursed upon termination of the lease, which includes equal division among tenants, distribution to the last tenant remaining, or direct refund to the individual who paid the deposit.

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Click ‘Get Form’ to open the lease deposit addendum in the editor.
Begin by entering the names of the lessor and lessees in the designated fields. Ensure all parties are accurately represented.
Fill in the date of the rental agreement and the property address to clarify which agreement this deposit pertains to.
Review the instructions regarding how the security deposit will be disbursed. Each tenant must initial their chosen option for clarity on refund distribution.
Ensure all tenants have initialed beside their selected paragraph, confirming their agreement on how refunds will be handled.
Finally, both lessor and lessees should sign and date the document to finalize it. This step is crucial for legal validation.

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