Real Estate Law
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You have to turn over the deposit whether the tenant wants you to or not. Once your employment is terminated, your legal authority ends and you don't have standing to retain the deposit. Technically you shouldn't really be holding deposits anyway as those should be transferred to the landlord to be placed in an escrow account so you don't have any liability.
It isn't up to the tenant who holds their deposit because although they still own it, the landlord legally retains it in trust until the end of the tenancy.