Abdicate (verb)

  1. To renounce or relinquish a throne, right, power, claim, responsibility, or the like, especially in a formal manner.
  2. To give up (a position, right, or power) formally.

Origin:

From latin abdicare, meaning "renounce" or "disown".

Examples:

  1. The king abdicated his throne in order to marry the woman he loved.
  2. He abdicated his position as CEO of the company due to health reasons.
  3. The queen abdicated her throne to her son.
  4. The emperor abdicated his throne to his son, but retained his imperial title.
  5. The dictator abdicated his power after the popular uprising.