The word for today is…
cede (verb) –
1 : to yield or grant typically by treaty
2 : assign, transfer
Source : Merriam -Webster
Etymology : 1630s, “to yield, give way,” from French céder or directly from Latin cedere “to yield, give place; to give up some right or property,” originally “to go from, proceed, leave,”
Cede is often a formal term used in discussing territory and rights, but is also used less formally. So, for example, Spain ceded Puerto Rico to the U.S. in 1898, following the Spanish-American War, and the U.S. ceded control of the Panama Canal to Panama in 1999. Critics warn that we are ceding leadership in alternative-energy technology to China. Citizens of one European country or another are always worrying that their own country is ceding too much power to the European Union. A tennis player doesn’t have any choice when he cedes his no. 1 ranking to a rival.
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