noun a formal surrender or transfer of territory, rights, or property
In legal contexts, cession can refer to the act of giving up or surrendering a legal right or claim to another party.
In finance, cession refers to the transfer of assets or rights from one party to another, often in exchange for payment.
In insurance, cession is the process of transferring part of the risk assumed under an insurance policy to another insurer or reinsurer.
In international relations, cession can refer to the formal transfer of territory from one country to another through treaty or agreement.
In the legal field, cession is used to refer to the transfer of rights or property from one party to another. Writers may use this term when discussing contracts, intellectual property rights, or ownership of creative works.
Psychologists may use the term cession when discussing the transfer of responsibilities or duties within a therapeutic relationship. It can also be used in the context of transferring patient records or information to another healthcare provider.
In finance, cession is commonly used to refer to the transfer of assets, such as loans or securities, from one entity to another. Financial analysts may use this term when analyzing the impact of cession on a company's balance sheet or investment portfolio.
Insurance agents may use cession to refer to the transfer of risk from an insurance company to a reinsurer. They may also use this term when discussing the cession of insurance policies or premiums to another company.
Real estate agents may use the term cession when discussing the transfer of ownership rights or property titles between buyers and sellers. It can also be used in the context of assigning leases or rental agreements to new tenants.