Surrenders and retires (5,2)
I believe the answer is:
turns in
This clue might be a double definition.
'surrenders' is the first definition.
The answer and definition can be both to do with ownership as well as being verbs in their -s form.
Maybe you can see a link between them that I can't see?
'retires' is the second definition.
('turn in' can be a synonym of 'retire')
'and' is the link.
Can you help me to learn more?
(Other definitions for turns in that I've seen before include "Goes home" , "goes to bed" , "Voluntarily hands over" , "Retires" .)