A domain name goes through a life cycle, and this life cycle can be reset if the owner chooses to renew it. However, what happens if the owner forgets to renew, doesn’t have the money to renew, or has quite simply lost interest in the domain and does not want to renew it?
What does a registered domain name mean?
A domain name is registered and is considered active. Registered domain name represents that an individual or company owns this domain name and can not be registered by anyone else at the moment. It will remain property of the registered owner until the registration time runs out. The minimum time it will be registered for is one year.