To 'relinquish' something means to:

The term 'relinquish' pertains to the act of letting go of something, either physically or metaphorically. This involves giving up control or possession of an item, a right, or a responsibility. When you relinquish something, you are essentially choosing to surrender it, often willingly, rather than having it taken from you. This captures the essence of both voluntary cession and the idea of releasing one's hold over something.

The other choices present concepts that contrast with relinquishing. Holding tightly to something directly opposes the idea of letting it go. Enhancing ownership suggests an increase in possession, and transferring control effectively implies a more active process rather than the passive notion of giving something up. Thus, the correct understanding aligns clearly with the notion of letting go or giving it up.