# Security Deposit

**IRI:** https://folio.openlegalstandard.org/R9OVtNYUqPXyvuaZmEggp6w

## Labels

**Alternative Labels:**

- Damage Deposit
- Lease Deposit
- Rental Deposit
- Tenancy Deposit

## Definition

A security deposit is a sum of money held by a landlord or lessor as collateral to cover potential damages or unpaid rent by a tenant or lessee. It is typically refundable if the terms of the lease are met and no damages occur.

## Sub Class Of

- https://folio.openlegalstandard.org/RDT9HdGssfLC6RPAX15qHr7

## See Also

- https://folio.openlegalstandard.org/R8vj2bjxO4znRO9ZDWXgn09

**Deprecated:** False