Define: Refundable Security Deposit

How is Refundable Security Deposit defined in a legal contract?

• Refundable Security Deposit means an agreed sum that's returnable and is paid by [individual] to cover potential damages or minor repairs to [property] during the rental period. Seen in 3 SEC filings
• Refundable Security Deposit means a payment required by the [individual] meant to cover any breakages, damages, or minor repairs to an [property], which may occur during the [individual's] stay. Seen in 1 SEC filing

Please note that the last definition has been omitted as it includes specific values and location information, which are against the rules specified earlier.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of refundable security deposit' yourself to verify these results. We are always keen to point people to source documents.

‍

Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

‍

Genie Definition 1

• Refundable Security Deposit means a returnable sum paid by [Individual] to cover potential damages to [Property] during lease period.

Relevant Contract Types

• Residential Lease Agreement
• Commercial Lease Agreement
• Rental Agreement
• Sublease Agreement
• Property Management Agreement

Relevant Circumstances

• Renting or leasing of residential properties
• Renting or leasing of commercial properties
• Subleasing of properties
• Renting or leasing of properties for short-term stay or vacation rental
• Engaging a property management company to manage rental properties

Relevant Sectors

• Real Estate
• Hospitality
• Retail

‍