cession

/ˈsɛʃən/
noun
  1. The act of giving up or surrendering something, such as land, rights, or property, often by formal agreement.
    • After the war, the cession of the disputed islands was a key part of the peace deal.
    • The treaty included the cession of a large territory to the neighboring country.
    • The company's cession of its patent rights allowed the new startup to use the technology.
What does "cession" mean? | whatsthatwordmean | whatsthatwordmean