1
as in relinquishes
to give (something) over to the control or possession of another usually under duress
she reluctantly ceded her position as leader
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2
as in assigns
to give over the legal possession or ownership of
Spain ceded Puerto Rico to the United States as part of the settlement of the Spanish-American War
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3
as in abdicates
to give up (as a position of authority) formally
the President officially cedes his position on the January 20th immediately following the presidential election
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Merriam-Webster unabridged
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