Am I entitled to a refund of a security deposit for a lease agreement I have signed or could there be other penalties?

First, the terms of the rental agreement will control.  Typically, if you back out before the lease term begins, you could still be liable for the entire rent due during the term, less the amount of rent received by the landlord from a replacement tenant.  Possibly though, the deposit might be the sole remedy of the landlord.  Again, look at the lease. Second, there is a difference between a deposit and a "security deposit".  For residential property, a security deposit is made to ensure that the condition of the property at the end of the lease term.  If you never occupied, then you should be able to get the security deposit returned. Again, review the lease agreement that you signed. This is specific to Florida law and does not constitute legal advice as the facts presented are anonymous and incomplete. This is intended for general education only and does not create an attorney-client relationship. This should not be relied on and you must seek your own attorney client relationship.