what to do with renter's deposit? tenant moved to singapore unable to contact.

[Kirk R.]

no way to contact tenant who moved to singapore.   his deposit is sitting in account drawing like..0.1% interest.   my plan is to leave deposit there til he contacts me? 

[Greg H.]

@Kirk R. @Keith Davidson

Make sure you google your states law on returning deposits as many people from other states will give you answers based on the law in their state 

Keith- In Texas we are not required to keep security deposits in an escrow or interest bearing account.  Actually, you can do anything you want to with it.  Texas law requires the deposit to be refunded minus any deductions within 30 days of being provide a forwarding address