retrocession

noun
ret·​ro·​ces·​sion | \ˈre-trə-ˌse-shən \

Legal Definition of retrocession 

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Note: An heir's right to retrocession has been repealed.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)

3a : 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

History and Etymology for retrocession

French rétrocession, from Medieval Latin retrocessio retreat, from Late Latin, act of going back, from Latin retrocedere to go back

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