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forfeiture

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noun for·fei·ture \ˈfȯr-fə-ˌchu̇r, -chər, -ˌt(y)u̇r\

Simple Definition of forfeiture

  • law : the act of giving up something as punishment or because of a rule or law : the act of forfeiting something

Source: Merriam-Webster's Learner's Dictionary

Full Definition of forfeiture

  1. 1 :  the act of forfeiting :  the loss of property or money because of a breach of a legal obligation

  2. 2 :  something (as money or property) that is forfeited :  penalty

Examples of forfeiture in a sentence

  1. <the forfeiture for early withdrawal of the investment savings will be an amount equal to 10 percent of the investment>



14th Century

First Known Use of forfeiture

14th century


Law Dictionary

forfeiture

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noun for·fei·ture \ˈfȯr-fə-ˌchu̇r\

Legal Definition of forfeiture

  1. 1 :  the loss of a right, money, or especially property because of one's criminal act, default, or failure or neglect to perform a duty — compare waiver

  2. 2 :  something (as money or property) that is forfeited as a penalty




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