What term is used to describe the intentional relinquishment of ownership interest in real property?

The term that accurately describes the intentional relinquishment of ownership interest in real property is abandonment. When an owner abandons their property, they are effectively giving up their rights to that property without transferring those rights to another party. This action usually implies that the owner has no intention of returning or claiming their ownership again, resulting in a loss of control and interest over the property.

In contrast, transfer refers to the act of conveying ownership from one party to another, which is not an act of relinquishment but rather an active movement of rights. Rescission involves the cancellation of a contract, restoring the parties to their original positions, rather than giving up ownership outright. Forgiveness typically refers to the release of a debt rather than the relinquishment of property ownership. Thus, abandonment is the most fitting term in the context of deliberately giving up ownership of real property.