RELEASE

a written document or the act of writing by which some claim, right or interest is given up to the person against whom the claim, right or interest could have been enforced.

In the law of property, the holder of a fee simple may convey to another a term of years and then subsequently release his or her reversionary interest [LEASE AND RELEASE] to the possessor of the term of years. Source: Barron's Dictionary of Legal Terms, Steven H. Gifis, 5th Edition; © 2016