Outrageously Funny Word Dictionary :: Cessionary

👉 The term "cessation of interest" in the context of real estate transactions is often used to describe a situation where an owner or tenant has granted a significant part of their ownership interest in the property to another party, typically as a condition for leasehold improvements. This means that the owner retains control over some or all of the property's assets and obligations, while allowing the other party to take certain actions on behalf of the property. For example, if an owner grants a cessionary deed to

cessionary