Close chum starts to surrender all possessions (6)
I believe the answer is:
estate
'possessions' is the definition.
(I've seen this in another clue)
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for estate that I've seen before include "Property to be inherited" , "all the deceased owned" , "Large car; property" , "My wealth" , "Total possessions" .)