term:

Surrender

surrender vt

1 a : to yield to the control or possession of another [ the leased premises] [ collateral to a creditor]
b : to give up completely or agree to forgo
c : to cancel (one's insurance policy) voluntarily
2 : to give over to the custody of the law [ a defendant]
vi
: to give oneself up
n : an act or instance of surrendering [discharge an obligor by of a promissory note]
;esp
: the yielding of an estate by a tenant to the landlord so that the leasehold interest is extinguished by mutual agreement

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.