Surrender

Reconveyance of propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. or leaseAn agreement to pay money in exchange for use of property. to mortgageeThe lender. or landlordThe owner of land or houses rented to someone else..

Surrender

The cancellationThis is when an insurance company or an insured person voluntarily ends an insurance policy according of a leaseAn agreement to pay money in exchange for use of property. by mutual consent of lessorThe landlord in a lease agreement. and lesseeThe tenant in a lease agreement..

Surrender

To terminate or cancel a life insuranceInsurance providing for payment of a specified amount on the Insured's death, either to his or her estate policyThe written contract of insurance. before the maturity dateThe stated date on which all or a stated portion or the principal amount of a security becomes due and payable.. In the case of a cash valueThe savings element of a permanent life insurance policy, which represents the policy owner's interest in the policy. policy, the policyholderThe person who owns the insurance policy. This is usually the insured person, but it may also be a relative may exercise one of the nonforfeiture options at the time of surrender.