In the lease agreement, if the tenant is owed an assurance (deposit), the amount of assurance must not exceed 3 months’ rent. The security may be agreed in the form of money or negotiable instruments. If given in money, that money should be valued in a time deposit account. If it is given as a negotiable instrument, this negotiable instrument must be stored in a bank. The lessee carries out the transactions of depositing the money into a time deposit account or depositing the valuable papers in the bank. However, the deposited or deposited security deposit can be returned based on the consent of both parties, the finalization of the enforcement proceedings by the lessor, or a court decision.
If the bank to which the security deposit is deposited does not notify in writing that the lessor has filed a lawsuit against the tenant regarding the lease agreement within three months following the expiry of the lease agreement, or that he has initiated proceedings through execution or bankruptcy, it is obliged to return the security upon the request of the lessee.
you can read our other articles and petition examples by clicking here.