Abandonment in real estate refers to the voluntary surrender of property, owned or leased, without naming a successor. Such property often reverts to an entity holding a prior interest or, if no owner is apparent, to the state. Abandonment does not negate obligations unless acknowledged by the obligee.
A holdover tenant is a tenant who remains in possession of leased property after the expiration of the lease term. Depending on the circumstances, the landlord may either evict the tenant or allow them to stay on a month-to-month basis.
