What term describes a person who voluntarily gives up possession of property?

The term that accurately describes a person who voluntarily gives up possession of property is "bailor." In the context of bailment, the bailor is the individual who entrusts the possession of their property to another party, known as the bailee. The bailor maintains ownership of the property but relinquishes physical control to the bailee for a specified purpose. This relationship is characterized by the agreement that the bailee will return the property to the bailor or dispose of it according to the bailor's instructions once the purpose has been fulfilled. Understanding this distinction is crucial in fields like property law and insurance, as it can affect liability and responsibilities regarding the care and return of the property.