What is a Deed of Surrender?
The deed of surrender is a document that makes it possible to transfer the ownership of property for a specified period of time and under specific conditions. Essentially, the legal instrument makes it possible to transfer a property by transferring or surrendering all claims on the property to the individual holding the underlying title. The document makes it possible to settle any outstanding claims that may be attached to a given piece of property. It is possible to use a deed of surrender in situations where several people have a life interest in a given property. For example, when several adult children are settling the estate of deceased parents, a deed of surrender may be used to simplify the process of selling property that is part of the estate. This is particularly true if more than one child has some degree of claim on the property that is under consideration. A deed of surrender can also be used to clear up any lingering issues with the establishment of a clear title to a p
