Key holding device

A key case for holding at least one key comprising:

• a housing having a first and second compartment said housing defined by a top boundary, a bottom boundary, a first sidewall and a second sidewall wherein said first and second compartments are separated by an interior sidewall;
• a hanger assembly including a strap attached to said housing, a cap pivotably connected to said strap, and a clasp adapted to be mounted to the key, said clasp being releasably mounted to said cap for removing the key from said housing without removal of the clasp from the key, said cap including a first end groove and a second end groove and said clasp including transverse support member adapted to engage said first and second end grooves, wherein when said clasp is attached to said cap, said transverse support member engages said grooves;
• said housing top boundary contains a first opening defining an entrance to said first compartment and said housing top boundary further comprising a second opening adjacent said first opening defining an entrance to said second compartment;
• wherein the key can be placed between a storage position and a use position wherein when the key is in said storage position the key is locked inside said first compartment and said strap is housed inside said second compartment and when the key is in said use position the key is removed from said first compartment and said strap is partially extended from said second compartment;
• and
• a biasing mechanism mounted inside said second compartment to apply retraction force to said strap when said strap is extended from said use position to partially retract said strap inside said second compartment to remove any excess slack that remains when the key is in said use position.