(d) The landlord shall comply with this section by hand-delivering or mailing the statement
and any payment required to the last known address of the tenant.
(e) If a landlord fails to return the security deposit with a statement within 14 days,
the landlord forfeits the right to withhold any portion of the security deposit.
If the failure is willful, the landlord shall be liable for double the amount wrongfully
withheld, plus reasonable attorney’s fees and costs.
(f) Upon termination of the landlord’s interest in the dwelling unit, the security deposit
shall be transferred to the new landlord. The new landlord shall give the tenant
actual notice of the new landlord’s name and address with a statement that the security
deposit has been transferred to the new landlord.
(g) A town or municipality may adopt an ordinance governing security deposits on dwellings.
The ordinance shall be supplemental to and not inconsistent with the minimum protections
of the provisions of this section. The ordinance may not limit how a security deposit
is held. The ordinance may authorize the payment of interest on a security deposit.
The ordinance may provide that a housing board of review constituted pursuant to 24 V.S.A. § 5005 may hear and decide disputes related to security deposits upon request for a hearing
by a landlord or tenant. The board’s actions shall be reviewable under 24 V.S.A. § 5006. (Added 1985, No. 175 (Adj. Sess.), § 1; amended 1987, No. 116, § 2; 1991, No. 229 (Adj. Sess.), § 1; 2007, No. 176 (Adj. Sess.), § 45.)