Surrender
In leases, it is the cancellation of a lease by mutual consent of lessor or lessee. In bankruptcy, it is an informal term for relinquishment of property by the debtor to the control of the bankruptcy trustee.
In leases, it is the cancellation of a lease by mutual consent of lessor or lessee. In bankruptcy, it is an informal term for relinquishment of property by the debtor to the control of the bankruptcy trustee.