Get Notice Of Cession

A cession is a legal act of transfer. It encompasses an agreement which provides that the transferor or cedent transfers a right to the transferee or cessionary. The principle is that the holder/creditor of a right can cede his or her claim to his or her own creditor in order to secure the debt which he or she owes.

These are some notable examples of peaceful cession in the international legal history: in exchange for Island of Zanzibar, Britain ceded the Island of Heligoland in the North Sea to Germany in 1980; in 1957, the Australia acquired the territory of Christmas Island; Russia ceded its territory of Alaska to the United ...

Cession is the act of giving up something, usually land, by the agreement in a formal treaty. For example, after a war, a losing country might make a cession of part of its land to the victor.

For example, the ceding insurance company may cede all risks for flood damage and the accepting company may accept all risks for flood damage in a particular geographic area, such as a floodplain.

cession. noun. ces·​sion ˈse-shən. : an act of ceding : a yielding (as of property) to another: as. in the civil law of Louisiana : assignment or transfer of property rights by a debtor to a creditor.

cession. noun. ces·​sion ˈse-shən. : an act of ceding : a yielding (as of property) to another: as. in the civil law of Louisiana : assignment or transfer of property rights by a debtor to a creditor.

A cession is a transfer of rights/ownership of policy from one party to another. The cedent of the policy is the current policy owner, who transfers the rights of the policy to a third party. The cessionary is the party to whom the rights have been transferred.

The principle is that the holder/creditor of a right can cede his or her claim to his or her own creditor in order to secure the debt which he or she owes. The primary function of a cession is to effect a substitution of creditors. The subject matter of the cession is personal rights and no real rights are transferred.