Merriam-Webster's Collegiate® Dictionary, 11th Edition
DEMISE
I. verb (demised; demising)
Date: 15th century
transitive verb to convey (as an estate) by will or lease, convey , give , to transmit by succession or inheritance, intransitive verb die , decease , to pass by descent or bequest ,
II. noun
Etymology: Middle English dimise, from Anglo-French demise, feminine of demis, past participle of demettre to dismiss, from Latin demittere to send down, from de- + mittere to send
Date: 15th century
the conveyance of an estate, transfer of the sovereignty to a successor,
3. death , a cessation of existence or activity, a loss of position or status