I think it depends on the circumstances. If they have a published policy on unused leave at separation (we get paid out for annual leave or comp time, no credit for sick leave), they can't hold onto it regardless of how you resign.
Notice is still preferable, but if you know they are going to be jerks about it, I'd probably clear out my personal things before/when I submitted the notice so you're prepared. That said, sometimes you just can't do it and I've had jobs where I just quit on the spot and walked out. Make sure you understand potential fallout before you do that, however. Could definitely cause problems later if you need a reference or you are in a field where everyone knows everyone else.
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