Asset Forfeiture
/ˈæsɛt fɔrˈfiʧər/
Definitions
- (n.) The legal process by which the government seizes assets connected to criminal activity.
The police initiated asset forfeiture to confiscate the proceeds of the drug trafficking operation.
- (n.) The involuntary loss of property as a penalty for a violation of law or regulation.
The company faced asset forfeiture after violating environmental laws.
Related terms
See also
Commentary
Asset forfeiture involves distinct procedures depending on whether it is civil or criminal, requiring careful attention to due process protections.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.