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As the key is your property you are entitled to its return upon demand. The law affords someone in this contractor's position a "reasonable" amount of time to return the key before it is considered "conversion," which can be prosecuted as a crime and also civilly pursued for damages (the cost of re-keying the building would be your damage). Therefore, the best course of action would be to immediately request the return of your key in a letter sent via certified mail. The letter should also provide the contractor with 2-3 possible times that they can come and pick up their property along with a warning that the property will be considered abandoned if it is not retrieved within a reasonable period of time (i.e. 3 weeks). The letter can also threaten that you will contact the police if the key is not returned within a specified number of days (i.e. 5 business days). Most people do not want to risk criminal prosecution and other legal problems over something like this, so the letter will likely accomplish your goals here.
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