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N.Y. Gen. Oblig. Law § 7-108

Citation
N.Y. Gen. Oblig. Law § 7-108
Jurisdiction
New York (state)
Source verification
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Full Text

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(g) Any person who violates the provisions of this subdivision shall
be liable for actual damages, provided a person found to have willfully
violated this subdivision shall be liable for punitive damages of up to
twice the amount of the deposit or advance.

2. (a) In circumstances where any sum of money or any other thing of
value deposited as security for the full performance by a tenant of the
terms of his lease is not turned over to a successor in interest
pursuant to section 7-105 of this chapter, the grantee or assignee of
the leased premises shall also be liable to such tenant, upon conveyance
of such leased premises, for the repayment of any such security deposit,
plus accrued interest, as to which such grantee or assignee has actual
knowledge.

(b) For purposes of this section, a grantee or assignee of the leased
premises shall be deemed to have actual knowledge of any security
deposit which is (i) deposited at any time during the six months
immediately prior to closing or other transfer of title in any banking
organization pursuant to subdivision two-a of section 7-103 of this
chapter, or (ii) acknowledged in any lease in effect at the time of
closing or other transfer of title, or (iii) supported by documentary
evidence provided by the tenant or lessee as set forth in paragraph (c)
of this subdivision.