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So I was not aware of the security deposit law. The security deposit was deposited in my personal account. What can I do at this stage to avoid penalties? Can I open an escrow account now to mitigate the situation somewhat? Should I return the money to the tenant right away? If I return the money then he may become suspicious and try to take advantage of me. My relationship with him is not the best. He wants to break the lease and not pay last month's rent because he is moving back to his home country a month early. So he is trying to find reasons to break the lease. His emails to me show his bad intent. He does not want to pay the water bill despite signing the lease about it.
But unfortunately I am caught in this situation with security deposit. Please advise.