Re-assigning a share of deposit
I have joint tenants who are a couple that are splitting up amicably and one of them is moving out. They have served me appropriate notice to terminate their current joint tenancy. I am preparing to enter into a new tenancy agreement with the remaining partner in his sole name.
What procedures should I take with regards to the deposit?
I will obviously un-register the deposit with the Tenancy Deposit Scheme at the end of the current tenancy then re-register it after the start of the new one.
I would prefer not to carry out pointless bank transactions since the deposit amount will remain the same. Can I simply get both tenants to sign some paperwork confirming that the remaining tenant has returned a 50% share of the money to the leaving tenant or something of that nature?
Thanks in advance for your advice.
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