What can you do if you have money left over from the Security Deposit disposition? The tenant didn’t leave a forwarding address and they aren’t contacting you anymore. While it is odd that someone doesn’t want a refund, it does happen. § 55.1-1226 (B) of the VRLTA provides the answer in case this happens. Absent a forwarding address, you must hold the funds for one year past the 45-day disposition end date. After the waiting period you are then allowed to remit the funds to the State Treasurer as unclaimed property.

Where can you do that? They do have a website which, of course, makes it convenient to remit the payments. Their website contains information on how to send the funds and the form the VRLTA references. If you are holding Security Deposit dispositions for a tenant and the above conditions apply, visit the State Treasurer’s website and remit the funds.