“Cede” is a legal term that means to transfer or relinquish ownership, control, or authority over something to another party. In the context of property law, ceding typically involves the transfer of land, rights, or interests from one party to another through a formal legal process, such as a deed or contract. Ceding can also refer to the surrender of jurisdiction, sovereignty, or powers by one entity to another, often through a treaty, agreement, or legislative action. The term is commonly used in various legal contexts, including real estate transactions, international relations, and corporate law, to denote the act of yielding or giving up rights or property to another entity.
The act of transferring insurance or reinsurance from an insurer to a reinsurer. Can also refer to buying reinsurance.
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This glossary post was last updated: 29th March, 2024.
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