Baronet
A baronet (female equivalent: Baronetess) is a hereditary title of honour, ranking below a baron but above a knight. It is the only hereditary title that is not a peerage. Baronetcies were created by Royal Letters Patent under the Great Seal.
Baronets are addressed as "Sir [Forename] [Surname], Bt." or "Sir [Forename] [Surname], Bart." Their wives are addressed as "Lady [Surname]." Children of a baronet are not entitled to any special style or title by virtue of their father's baronetcy.
The baronetcy was instituted in England by King James I in 1611, with the primary purpose of raising funds for the ongoing colonization of Ulster in Ireland. Individuals who were willing to support the project by paying a specific sum of money were granted the title. Later baronetcies were created for Scotland (1625) and Ireland (1619), and after the Union of 1707, baronetcies of Great Britain were created. After the union of Great Britain and Ireland in 1801, baronetcies of the United Kingdom were created.
Unlike knighthoods, baronetcies are hereditary, passing to the heir male of the body, or according to the terms of the letters patent creating the baronetcy. A baronet does not receive a knighthood upon inheriting the baronetcy.
The official roll of baronets is maintained by the Crown Office. Baronets are entitled to display the Badge of Ulster (a silver escutcheon charged with a sinister hand couped at the wrist, appaumée, gules) on their coat of arms. While the right to bear the Ulster badge was originally granted to all baronets of Great Britain and the United Kingdom, many Scottish baronets use their own heraldic badges.