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Vinony

cession

noun

  1. assignment of property to another entity
L313066 on Wikidata ↗

Wiktionary

Pronunciation: /ˈsɛʃən/

noun

Etymology: From Middle French cession, from Latin cessionem, from past participle of cēdere (“to yield”). By surface analysis, cede + -sion.

  1. That which is ceded.
  2. That which is ceded.

    “The reinsurance company accepted a 25% cession from the direct insurer.”

  3. The giving up of rights, property etc. which one is entitled to.

    “[…] Rashleigh, whose occasions frequently call him elsewhere, has generously made a cession of his rights in my favour; so that I now endeavour to prosecute alone the studies in which he used formerly to be my guide.”