cession

ces·sion   (sěsh'ən)    n.   A ceding or surrendering, as of territory to another country by treaty. Something, such as territory, that is ceded. [Middle English, from Old French, from Latin cessiō, cessiōn-, from cessus, past participle of cēdere, to yield; see ked- in Indo-European roots.]

cession 

Main Entry: ces·sion
Pronunciation: 'se-sh&n
Function: noun
1 : an act of ceding : a yielding (as of property) to another: as a in the civil law of Louisiana : assignment or transfer of property rights by a debtor to a creditor b : transfer of liability by an insurer to a reinsurer c : transfer of control of or sovereignty over specific property or territory esp. by treaty cession of particular States…become the seat of the government of the United States —U.S. Constitution article I>
2 : the monetary amount of liability ceded by an insurer to a reinsurer —compare CONCESSION