A deed of surrender is a legal document used to formalize the voluntary termination of a lease or tenancy agreement by the tenant, returning possession of the property to the landlord or property owner. In essence, it signifies the relinquishment of the tenant’s rights and interests in the property. The deed typically outlines the terms and conditions agreed upon between the landlord and tenant, such as the date of surrender, any outstanding obligations (e.g., rent payments, repairs), and the return of any security deposit. By executing a deed of surrender, both parties formally acknowledge the end of the tenancy and any associated rights and responsibilities.
A deed that temporarily transfers a property to another person.
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This glossary post was last updated: 29th March, 2024.
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