Its never happened to me so I don't have experience but I would hazard a guess that there is at least one form involved that the owner of the closed account would have to fill out and sign and the process won't be quick but could eventually result in a check being mailed to the owner of the closed account.

Or as Steve M posted you can cancel the ticket instead of refunding it and then use the funds on future flights. That's what I would do if I were in the situation you describe.