cession

noun

1. (countable, uncountable)That which is ceded.
2. (countable, uncountable)That which is ceded.

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

3. (countable, uncountable)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.”