👉 In the context of legal and financial terms, "ceded" is a term commonly used to describe the transfer or surrender of property rights. In this sense, it refers to the relinquishment or transfer of ownership of an asset from one party (the cedee) to another party (the cedee's successor). This can happen through various means, such as by selling or giving away a piece of real estate, transferring title to a vehicle, or assigning rights to a company.
