Well normally I will either bring to Kong Men San Recycle kisok
or burn it off in a respectful manner by chanting Namu Myo Ho Renge
Kyo (NMHRK)
If is a blessed statue.....
Which happened to my family before. We were left with my passed
on brother collection of Thai amulet and statue such as Kun Man
Tong, Kun Pean etc. We brought the collection before the altar. We
recited the Lotus Sutra & NMHRK. We report our intention to
disposed the collection to the Buddha as the owner has passed
on. Subsequently, we delicate the merits of the recitation to those
spirit residing in the collection. When we are at the sea, we just
chant NMHRK repeatedly as we put them into the sea. We wish them
well and happiness. We pray for their safe return to the source by
the sea.
I think most buddhist master will recommend burning,disposal in
the sea or burial. The latter is not visible due to urbanisation. I
think if one dispose the religious object in a proper manner it
should be fine.
Personally, if one is Pali pro chant pali sutta, same goes with
tibetan, mahanyana and so on. At the end, I don't think what one
chant matter. It is the Dharma essence cum our sincerity
which are the most important factor. At least, it will
not incurred the warth of Dharma protector and create a negative
karma for the future.
Gassho