Security Deposit

Definition

Money a tenant pays upfront as insurance against property damage, which landlords often illegally keep while the tenant argues with lawyers.

Example Usage

We collected a $2,500 security deposit, which will be returned after move-out inspection minus any legitimate damages.

Origin

Modern landlord-tenant law convention, formalized in 1970s

Fun Fact

Most states require landlords to return security deposits within 30-45 days with itemized deductions, but many ignore this law.

Source: Landlord-tenant law

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