Forfeiture
/fɔrˈfiːtʃər/
Definitions
- (n.) The loss or giving up of property or rights as a penalty for wrongdoing or breach of law.
The contract included a forfeiture clause if payments were missed.
- (n.) The legal process by which property is seized because it was involved in or derived from illegal activity.
The authorities ordered the forfeiture of assets linked to criminal activity.
Related terms
See also
Commentary
In legal drafting, specify conditions triggering forfeiture clearly to avoid ambiguity.
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.