What does security deposit mean?

Definitions for security deposit
se·cu·ri·ty de·posit

This dictionary definitions page includes all the possible meanings, example usage and translations of the word security deposit.

Princeton's WordNet

  1. margin, security depositnoun

    the amount of collateral a customer deposits with a broker when borrowing from the broker to buy securities

Wiktionary

  1. security depositnoun

    An amount of money paid in advance as security against the payor's non-performance of a contractual obligation.

ChatGPT

  1. security deposit

    A security deposit is a sum of money paid upfront by a tenant to a landlord or rental agency as a guarantee against any future damages, unpaid rent, or other liabilities that may occur during the rental period. This deposit acts as a financial safety net for the landlord and is usually refundable at the end of the rental period if the rental property is left in good condition. The amount can vary, but it is typically equivalent to one or two months' rent. The specific laws and regulations regarding the amount, usage and return of security deposits vary by jurisdiction.

Wikidata

  1. Security deposit

    A security deposit is a sum of money held in trust either as an initial part-payment in a purchasing process - also known as an earnest payment, or else, in the course of a rental agreement to ensure the cost of repair in relation to any damage explicitly specified in the lease and that did in fact occur. In certain taxation regimes a deposit need not declared as part of the gross income of the receiving party until either the depositing party or an arbitrator agrees the funds may be used for the intended purpose. A 1990 United States of America ruling provides that a deposit differs from an advance payment because the depositing party has dominion over the funds and retains the right to insist upon repayment in cash. On the other hand, the party making an advance payment retains no right to insist upon the return of the funds as long as the recipient fulfills the contractual agreement. The rationale behind the court’s decision is that the recipient of the deposit does not enjoy “complete dominion” over the funds and is subject to an express obligation to repay so long as the customer fulfills his or her legal obligations. Additionally, both the timing and the method of refund are largely within the control of the depositing party, as he or she can choose to insist upon repayment in cash or apply the deposit to purchase services. The recipient’s right to retain the funds of the deposit is contingent upon events that are outside of his or her control.

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Numerology

  1. Chaldean Numerology

    The numerical value of security deposit in Chaldean Numerology is: 3

  2. Pythagorean Numerology

    The numerical value of security deposit in Pythagorean Numerology is: 1

Examples of security deposit in a Sentence

  1. President Obama:

    I’m actually leasing (this house), and my lease runs out in two years. I hope to get my security deposit back.

  2. Natalie Wood:

    Oh goodness, if I was n’t able to touch [ that money ], I would n’t have electricity, water, or a roof over my head, but you know, the thing a lot of us forget, Natalie Wood included, is you put down first, last, and a security deposit and you’re in a place. But how about all the deposits necessary for water, gas, electricity — all of our things had to be put in storage. Even doing that we lost more than half of everything we owned … and finding a motel that would accept us with dogs was not easy. It was costly … We’re still coming to terms with everything, so we’re not pulled together by any stretch of the imagination, but we’re trying. I ’m trying very hard to make it a home.

  3. Natalie Wood:

    Oh goodness, if I wasn’t able to touch [that money], I wouldn’t have electricity, water, or a roof over my head, but you know, the thing a lot of us forget, myself included, is you put down first, last, and a security deposit and you’re in a place. But how about all the deposits necessary for water, gas, electricity — all of our things had to be put in storage. Even doing that we lost more than half of everything we owned… and finding a motel that would accept us with dogs was not easy. It was costly… We’re still coming to terms with everything, so we’re not pulled together by any stretch of the imagination, but we’re trying. I’m trying very hard to make it a home.


Translations for security deposit

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"security deposit." Definitions.net. STANDS4 LLC, 2024. Web. 28 Feb. 2024. <https://www.definitions.net/definition/security+deposit>.

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