security deposit
Definition of security deposit
: an amount of money that a renter pays when beginning to rent property (such as an apartment) and that can be used to pay for any damage that the renter causes to the property
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Word by Word Definitions
: the quality or state of being secure: such as
: freedom from danger : safety
: freedom from fear or anxiety
: to place especially for safekeeping or as a pledge
: to put in a bank
: to lay down : place
: the state of being deposited
: something placed for safekeeping: such as
: money deposited in a bank
Law Dictionary
security deposit
Legal Definition of security deposit
: money provided by a tenant to a landlord to secure performance of a rental agreement or compensate for possible loss or damage
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