Deed Of Surrender


DEFINITION of 'Deed Of Surrender'

A legal document transferring property ownership for a given time period, provided certain conditions are met. A deed of surrender allows one party, such as a renter, to relinquish his or her claims on a particular piece of property to the party holding the underlying title (the landlord). Once the deed of surrender has been signed, any outstanding claims on the property can be resolved. 

BREAKING DOWN 'Deed Of Surrender'

A deed of surrender can be used to terminate any commercial property lease and/or relieve tenants of their lease obligations. In exchange for giving up their rights to a property, the tenant is released from further claims and demands by the landlord, and the landlord is released from further claims and demands by the tenant. The deed of surrender outlines each party’s rights.  

A deed of surrender is typically used in situations where the landlord and tenant are on (at least) somewhat good terms. If either party has breached the lease contract, ending the legal relationship becomes more complicated. For example, if a tenant owes a landlord several months’ back rent that the landlord intends to collect, the landlord may not execute a deed of surrender, because that would give up the rights to back rent.

The deed of surrender states the condition in which the tenant will leave the property, affirms the tenant has fulfilled any financial obligations to the landlord, states the landlord has returned the tenant’s deposit or a portion thereof, or that the tenant is not due a refund of deposit at all. The document is signed by both the landlord and tenant, as well as by a witness like a notary public. 


  1. Quitclaim Deed

    A deed releasing a person's interest in a property without stating ...
  2. Deed Of Reconveyance

    A document issued by a mortgage holder indicating that the borrower ...
  3. Renter's Insurance

    A form of property insurance that provides coverage for a policy ...
  4. Transfer-For-Value Rule

    The stipulation that, if a life insurance policy (or any interest ...
  5. Perfect Title

    A title deed for real estate that does not have any liens attached ...
  6. Surrender Rights

    A right to cancel an annuity or life insurance contract in exchange ...
Related Articles
  1. Home & Auto

    Tips For The Prospective Landlord

    Investing in rental property can generate serious income, but there's more to it than collecting rent.
  2. Home & Auto

    Top Tips For Successfully Renting Out Your Home

    Renting out your home can be a great way to ride out a real estate slump - if you do it right.
  3. Home & Auto

    The Complete Guide To Becoming A Landlord

    Being a landlord can be a fulfilling and financially rewarding experience. However, the decision to become a landlord should not be taken lightly.
  4. Home & Auto

    Understanding Property Deeds

    We help you figure out the terminology and types of deeds, and how to make it legal.
  5. Home & Auto

    The Complete Guide To Real Estate Renting

    Everything you need to know about renting property.
  6. Personal Finance

    6 Tips For Renting An Apartment

    Find out what you can do to find a fabulous apartment to fit your budget.
  7. Taxes

    Tax Deductions For Rental Property Owners

    Besides creating ongoing income and capital appreciation, real estate provides deductions that can reduce the income tax on your profits.
  8. Options & Futures

    Insurance 101 For Renters

    If it's time for you to leave the nest, find out how to protect your new home from disaster.
  9. Home & Auto

    Becoming A Landlord: More Trouble Than It's Worth?

    On the surface, being a landlord seems likes like a surefire bet, but it's usually more headache than it's worth.
  10. Retirement

    Are You Ready to Rent?

    If you think it's time to test your wings and leave your parents' nest, read on.
  1. Does renters insurance cover storage units?

    An all-perils renters insurance policy provides coverage for the contents of storage units. Most policies limit the amount ... Read Full Answer >>
  2. Does renters insurance cover mold?

    An all-perils renters insurance policy typically provides a low set amount of coverage for damage caused by mold as long ... Read Full Answer >>
  3. Does renters insurance cover dog bites?

    A renters insurance policy typically provides liability coverage, up to policy limits, for dog bites unless the coverage ... Read Full Answer >>
  4. Does renters insurance cover theft?

    An all-perils renters insurance policy provides worldwide theft coverage for personal property after a claim exceeds the ... Read Full Answer >>
  5. Does renters insurance cover moving?

    An all-perils renters insurance policy covers damage to items resulting from a covered peril during a move. Limitations and ... Read Full Answer >>
  6. How much renters insurance do you need?

    You should have enough renters insurance coverage to replace lost or damaged items with new ones. On average, renters have ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  2. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  3. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
  4. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning ...
  5. Monetary Policy

    Monetary policy is the actions of a central bank, currency board or other regulatory committee that determine the size and ...
  6. Indemnity

    Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability ...
Trading Center