Verzicht

Verzicht is a German noun meaning renunciation or waiver of a right, claim, or benefit. The term is derived from the verb verzichten, which denotes relinquishing or abstaining. In everyday language, Verzicht describes the voluntary act of forgoing something one could reasonably pursue or claim.

In legal contexts, Verzicht refers to the formal declaration of relinquishment of a right or claim. It can concern contractual rights, compensation claims, or benefits, and is often documented in a Verzichtserklärung. The validity of a Verzicht generally requires voluntariness, awareness of consequences, and sufficient legal capacity; some rights may be protected by law and cannot be renounced, or may require specific formalities. The effect is typically that the renounced right cannot be asserted against the renouncing party, though third parties or creditors may retain certain protections as specified.

In practice, Verzicht is used in settlements, negotiations, and ordinary life to simplify arrangements or in strategic decision-making. Examples include a Verzicht on a legal claim in a settlement, a Verzicht on certain benefits, or a dietary Verzicht on certain foods. In inheritance law, people may speak of a Verzicht on an inheritance, though formal actions in different jurisdictions may have distinct terms.