Question

What is the intentional and voluntary relinquishment of any ownership interest or possession of real property?

1) Abdication
2) Surrender
3) Waiver
4) Renunciation

Answer 1

Surrender is the intentional and voluntary relinquishment of any ownership interest or possession of real property.

Step-by-step explanation:

The intentional and voluntary relinquishment of any ownership interest or possession of real property is called surrender. Surrendering real property means giving up one's rights and claims to that property willingly and knowingly.

Surrendering property can occur in various situations, such as when a person decides to transfer ownership to another individual or entity, or when they voluntarily abandon or give up possession of the property.

For example, if someone decides to sell their house and transfers ownership to a buyer, they are surrendering their ownership interest in that real property.