This is in the state of Oregon. Our lease just states we have to pay the buyout fee to terminate the lease, but it does not state we cannot use the deposit for the buyout. Does anyone know anything about buyout and deposit laws? Our landlord is saying we cannot use the deposit but I dont know if it is true.Can you use your security deposit for a rental lease buyout, if it doesn't state that you cant on your lease?
There is no law against that, but the landlord MUST agree to it. While it is standard practice to use the deposit as the lease buyout, he is NOT legally obligated to do so.
Your deposit is just that and cannot be used for rent or lease buyout unless the landlord agrees to it. If you are breaking your lease he is with in his legal right to demand that lease buy out fee separately.Can you use your security deposit for a rental lease buyout, if it doesn't state that you cant on your lease?
Housing law is Deposit not to be used for anything but damages to the unit. So you cannot
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