Joint Tenancy - Advice Please.

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R
RB
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We have a joint tenancy beginning on the 1st July 2007. Five tenants have signed for the property. One tenant decided to drop out of the tenancy and is demanding his deposit back. Do I:

a) Say 'no', not until he has found a replacement tenant to take over his place in the group and only when I have received the new tenants deposit give the old tenant his deposit back.

b) Say 'yes', give him his share of the joint deposit back and insist the remaining tenants make up the full amount due.

c) None of the above.

The father of this tenant pulled the old 'I'm a lawyer' card on me yesterday to which I replied 'You should know the law then'. Think I need to get my facts straight before I act the smart arse with a lawyer so please would you respond if you know the answer.

Cheers

RB

12/06/2007 00:00

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