I am being potentially bought out by an investor which means a change of management for my tenant. They were informed that this was happening previously so it's no surprise. But not sure of the formal process to transfer the security to deposit to the new management. Is there a form on this site to use?? Thanks!
Your lease form should have provided for that. Your attorney or escrow agent on the sale / purchase agreement should be able to note that issue in the transaction paperwork. This is. A very standard matter in RE transactions
Send your tenants a note indicating ownership change and your transfer of they security deposit stating dolar amount transferred to new owner, with copy to new owner. State new owners address of record in that letter to tenants. You're done.