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cede (v.)

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," from Proto-Italic *kesd-o- "to go away, avoid," from PIE root *ked- "to go, yield."

Original sense in English is now archaic; transitive sense "yield or formally surrender (something) to another" is from 1754. The sense evolution in Latin is via the notion of "to go away, withdraw, give ground." Related: Ceded; ceding.

Latin cedere, with prefixes attached,  is the source of a great many English words: accede, concede, exceed, precede, proceed, recede, secede, etc.

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Definitions of cede from WordNet

cede (v.)
give over; surrender or relinquish to the physical control of another;
Synonyms: concede / yield / grant
cede (v.)
relinquish possession or control over;
Synonyms: surrender / deliver / give up
From wordnet.princeton.edu