Stakeholder
- Deposits for security retained by other than the landlord can be held as stakeholder or as agent for the landlord. The latter provides less security for the tenant. When a third party holds the deposit as agent for the landlord, the agent can only return the deposit on the Landlord's instructions. However, a third party stakeholder requires the permission of both landlord and tenant to release the deposit leaving less room for conflict or retrospective claims.
Published: 11 November 2013
Last Updated: 17 November 2021