Renounce (verb)

1. To publicly declare that one no longer holds a particular office, title, or claim.
2. To give up a right, claim, or possession formally.
3. To reject or abandon something or someone formally, publicly or decisively.

Origin:

Late middle english: from old french renoncier, from latin renuntiare, from re- (expressing intensive force) + nuntiare "make known".

Examples:

1. He renounced his claim to the throne.
2. She renounced her citizenship.
3. The king renounced his son as heir to the throne.
4. The company renounced its rights to the patent.
5. He renounced his former beliefs and adopted a new ideology.