👉 A renunciatory is a type of transaction where one party agrees to surrender their property or assets in exchange for another party's promise of payment. In this context, the term "renunciatory" means that the person who gives up their property or assets is not compensated for it. For example, if someone gives up their house as part of a renunciation agreement, they are agreeing to give up ownership and control over the property in exchange for financial compensation from the other party. The other party
