When does the law stipulate that the deposit for second-hand housing transactions will be refunded?

Second-hand housing deposit refund time is generally written in the contract or agreement, according to the time agreed in the contract.

Legal analysis

According to the relevant laws and regulations, the second-hand housing deposit is not a deposit and will not be automatically converted into a deposit. If the contract is terminated, the deposit should be refunded. Mainly depends on how to stipulate the deposit in the second-hand housing sales contract signed by both parties. If there is an agreement, it will be returned according to the agreement. If there is no agreement, it shall be returned according to legal circumstances. When the property delivery deposit is completed, the buyer and the seller receive the key, and there is no dispute about the cost, the broker will refund the property deposit. After the transaction is completed, the deposit can be refunded. Performance bond is a kind of financial guarantee for buyers and sellers to ensure performance. The performance bond is closely related to the performance of the contract and will only be returned when the contract expires or is dissolved according to law. Performance bond is different from deposit. The purpose of the performance bond is to ensure that both parties to the contract fully perform the contract, mainly to ensure conformity with the contract. Second, in practice, the performance bond is generally returned after the completion of the contract. If the party paying the performance bond fails to perform as required by the contract, the performance bond will not be returned. However, if the unit requires to pay the repair or maintenance deposit, the refund time should be after the repair or maintenance deposit is completed. Third, because the relevant laws and regulations do not stipulate the collection and management of performance bond, there is no uniform standard for specific operation, and the operation methods vary from place to place. The general practice is to give the deposit to the centralized purchasing agency, but the amount and time of delivery, validity period and refund time are somewhat different.

legal ground

Article 587 of the Civil Code of People's Republic of China (PRC) * * * If the debtor performs the debt, the deposit shall be used as the price or recovered. If the party paying the deposit fails to perform the debt or the performance of the debt is not in conformity with the agreement, thus the purpose of the contract cannot be achieved, it has no right to request the return of the deposit; If the party receiving the deposit fails to perform the debt or the performance of the debt does not conform to the agreement, so that the purpose of the contract cannot be achieved, the deposit shall be returned twice.