to renounce or relinquish a throne, right, power, claim, responsibility, or the like, esp. in a formal manner: The aging founder of the firm decided to abdicate.
?v.t.
to give up or renounce (authority, duties, an office, etc.), esp. in a voluntary, public, or formal manner: King Edward VIII of England abdicated the throne in 1936.
Random House Unabridged Dictionary, Copyright 1997, by Random House, Inc., on Infoplease.