Baronet/Baronetess is a title typically rewarded to commoners that have done grand social or mental feats that catches the attention of the lord they are a vassal too. The family and spouse of a Baronet is not really considered part of this 'middle of noble and commoner' but they are given more respect than the average commoner. The Baronet title is not inherited by their baronet's child but a Baronet could, potentially, have a socialite that they've been training as someone to suggest to take over for them when they die/retire. Much like knights and Sages this title is very rare and limited. A noble family can only have 1 Baronet and, again, like knights and Sages the removal of the baronet is very difficult to do. Though, unlike a knight, this does not result into death but a great amount of social shame.
A baronet who brings shame upon the noble house they serve is social suicide. The scandal they cause that disgraces the noble they serve has to make the noble house look bad. When it does the noble takes an action they deem appropriate punishment for a Baronet, who is there to represent the noble family socially. The majority of the time they are cast out of their role and from the lands of the noble family. Other nobles might take in the scandalized baronet who has lost their title but they are never to obtain the title again. There are cases of the Baronet being put to death but that is very extreme and reserved for actions that actually put the noble family in danger over tarnishing their reputation.