
die Ablösung
replacement
The process in which one person replaces another in a position, office, or task.
Nach der Wahl stand die Ablösung des alten Bürgermeisters fest.
After the election, the replacement of the old mayor was certain.
replacement / detachment / payoff
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replacement
The process in which one person replaces another in a position, office, or task.
Nach der Wahl stand die Ablösung des alten Bürgermeisters fest.
After the election, the replacement of the old mayor was certain.

detachment
The process in which something physically comes loose from a surface or another part.
Wegen einer Netzhautablösung musste er sofort operiert werden.
Because of a retinal detachment, he had to have surgery immediately.

payoff
The complete repayment of a debt or loan, often by taking out a new loan on better terms.
Die vorzeitige Ablösung des Baukredits ist mit zusätzlichen Kosten verbunden.
The early payoff of the construction loan involves additional costs.
'Die Ablösung' (replacement / detachment / payoff) is the noun corresponding to the verb 'ablösen'. The verb 'lösen' (to loosen / solve), combined with the prefix 'ab-' (away, down), can mean 'to replace', 'to come loose', or 'to repay', depending on the context. The noun describes the process in each case.
Der neue Mitarbeiter wird seinen Kollegen in zwei Wochen ablösen.
The new employee will replace his colleague in two weeks.
The thematic context makes the meaning clear. In politics or work, it is about replacing a person. In medicine or technology, it is about physical separation. In finance, it is about the repayment of debts.
Die Ablösung des alten Trainers wurde in der Presse diskutiert.
The replacement of the old coach was discussed in the press.
To express who or what is being replaced, you usually use the genitive or the preposition 'von' + dative. Both are correct and common.
Die Ablösung des alten Systems verlief reibungslos.
The replacement of the old system went smoothly.
In a medical context, the combination 'Netzhautablösung' (retinal detachment) is a fixed term for a serious eye condition. Here the word is often used as a compound.
Eine Netzhautablösung muss umgehend behandelt werden.
A retinal detachment must be treated immediately.
In a financial context, 'Ablösung' (payoff) is typically combined with types of debt. People often speak of the 'Ablösung eines Kredits' (payoff of a loan), 'eines Darlehens' (of a loan), or 'einer Hypothek' (of a mortgage).
Die Bank informierte ihn über die Konditionen für die Ablösung seiner Hypothek.
The bank informed him about the terms for the payoff of his mortgage.
succession
Both words can describe a change in an office or position. „Ablösung“ emphasizes the actual replacement of a person who is still in office, while „Nachfolge“ describes the transition to the new person after the previous person has left. Use „Ablösung“ for the replacement and „Nachfolge“ for the subsequent takeover.

Der Vorstand beschloss die Ablösung des Direktors noch vor seinem Rücktritt.
The board decided to replace the director before his resignation.
Nach dem Rücktritt des Direktors wurde seine Nachfolge schnell geregelt.
After the director's resignation, his succession was arranged quickly.