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Cede (Verb)

Give over; surrender or relinquish to the physical control of another.

Verbs of buying, selling, owning.

The government agreed to cede control of the disputed territory to the neighboring country.
She was forced to cede the steering wheel to her frustrated passenger.
The company will cede all rights to the trademark as part of the settlement agreement.
After a long battle, the city decided to cede the waterfront property to a private developer.
The mayor reluctantly agreed to cede her mayoral duties to the acting deputy mayor.

Relinquish possession or control over; "The squatters had to surrender the building after the police moved in".

Verbs of buying, selling, owning.

France was forced to cede control of its colonies to the British after the war.
The company agreed to cede ownership of the patent to its competitor in exchange for a settlement.
The government decided to cede a portion of the land to the indigenous community as part of the treaty.
After a long dispute, the family was required to cede the property to their neighbors due to a technicality in the deed.
The smaller company had to cede control of the market to its larger competitor due to financial difficulties.