Cession

Pronunciation: /ˈsɛsʒən/

Cession (noun)

  1. The act of giving up land or rights to another person or country, usually by agreement or law.
  2. The act of giving up control or authority to someone else, often as part of a treaty or official decision.
  3. In finance, the transfer of a claim or payment right from one party to another.

Examples

  • The cession changed the border between the two regions.
  • They agreed on the cession after long negotiations.