Deposit not reclaimed by tenant

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    Deposit not reclaimed by tenant

    Slightly odd situation.

    I am LL. Had tenancy end about a year ago, perfectly amicably. Agreed with tenant (in writing) to withhold a small amount of the deposit.

    Released the balance of the deposit to the tenant on the DPS website.

    A year later and the tenant has still not reclaimed it. It is marked as 'Awaiting tenant action ' on the DPS website. I have emailed the tenant a reminder but, for all I know, that may no longer be a valid email address.

    Does anyone know what happens to this if the tenant never reclaims it, as seems likely.

    I don't particularly mind and it can sit in the DPS's account indefinitely as far as I am concerned. But what would happen if I decide to get out of Landlording game, or die, or whatever. I'm just curious as to what the position would be.

    My guess is that it would remain on the DPS's balance sheet as a liability for ever.

    It's the tenant's money, and what they do with it is up to them.

    I'd assume that after 6 years, the DPS could make a claim for it as unclaimed funds.
    That's what a business would do with unclaimed refunds, for example.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


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