abdication

Short definition from Wiktionary

Noun

1. 1
   The act of disowning or disinheriting a child.
2. 2
   The act of abdicating; the renunciation of a high office, dignity, or trust, by its holder.
3. 3
   The voluntary renunciation of sovereign power.
4. 4
   The renunciation of interest in a property or a legal claim; abandonment.
5. 5
   The action of being deposed from the seat of power.