I surrendered something that I value more highly than just about anything else: My mobility and freedom.

This type of approach goes a long way toward building trust and mutual respect, and this can help keep things on track down the road after a successful workout is achieved or even in cases where a workout is not possible and the borrower has to surrender the property.

Maintenance, Repairs, Or Alterations: Lessee shall maintain the premises in a clean and sanitary manner including all equipment, appliances, furniture and furnishings therein, and shall surrender the same at termination thereof, in as good condition as received, normal wear and tear excepted.

@Alex ShaughnessyMake sure you know if there are any annuity surrender charges and if not, and it is in an Ira, it should Easy to roll it over into an SDIRA. it is a good strategy to work the Ira for your mom especially if it will be yours one day.

I actually panicked and sent security deposit back ( there were no damages) on 11/14. on the 17th I received the electric bill for $40 because she turned it off on 10/2.I live in PA and thinking I may be in trouble. tenant landlord law reads 30 day period starts "....at lease termination or when tenant surrenders and landlord accepts apartment whichever comes first". not sure exactly what "accepts" means.

Fast forward to this past December (2014), he filed bankruptcy and did not put the house in his filings, but he had to surrender it.

We extended the closing date to July 1st and had the buyer surrender the $2k in earnest money in the event the deal doesn't close.

If she cannot continue to pay, then she will need to surrender the home back to you as in any foreclosure situation.

@Arnold Finkelstein, if you want to eventually end up with the real estate, contact the taxpayer by regular and certified mail, advise of the tax sale, demand they either vacate the property or redeem or surrender possession to you or sign a lease with you. 

In my state they have titles just like a car unless it is on a piece of land and the title surrendered then it is just like a house.