retrocession
noun
ret·ro·ces·sion
ˈre-trə-ˌse-shən 
1
: the return of title to property to its former or true owner
specifically, in the civil law of Louisiana
: the return to a decedent's heirs of property of the decedent that had been sold or assigned by coheirs
Note: An heir's right to retrocession has been repealed.
2
: the act of ceding back something (as jurisdiction)
3
a
: the process by which all or part of the risks assumed in an insurance contract are reassigned or ceded by a reinsurer to another insurance company
b
: the amount reassigned or ceded
Dictionary Entries Near retrocession
Cite this Entry
“Retrocession.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/retrocession. Accessed 29 Nov. 2024.
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