- The loss of rights to an asset outlined in a legal contract if a party fails to fulfill obligations of the contract. Bloomberg Financial Dictionary
* * *forfeiture for‧fei‧ture [ˈfɔːftʆə ǁ ˈfɔːrftʆər] noun [uncountable]1. LAW when someone loses property or the legal right to have something because they have broken the law:
• Under racketeering law, prosecutors are seeking forfeiture of certain properties.2. HUMAN RESOURCES when someone loses rights, benefits etc:
• Employees should be able to move from one organization to another without worrying about forfeiture of pension benefits.
* * *forfeiture UK US /ˈfɔːfɪtʃər/ noun [C or U] LAW► the loss of rights, property, or money, especially because you have not obeyed a rule or law: forfeiture of sth »
I had been told that my client would face 40 years in prison and a forfeiture of his assets.forfeiture action/proceedings/suit »
If rent remains outstanding for 21 days after the due date, forfeiture proceedings may be brought against a tenant.»
Prosecutors are also seeking forfeiture of an undisclosed amount relating to the conspiracy.
Financial and business terms. 2012.
Look at other dictionaries:
forfeiture — for·fei·ture / fȯr fə ˌchu̇r/ n 1: the loss of a right, money, or esp. property because of one s criminal act, default, or failure or neglect to perform a duty compare waiver 2: something (as money or property) that is forfeited as a penalty… … Law dictionary
Forfeiture — For fei*ture (?; 135), n. [F. forfeiture, LL. forisfactura.] 1. The act of forfeiting; the loss of some right, privilege, estate, honor, office, or effects, by an offense, crime, breach of condition, or other act. [1913 Webster] Under pain of… … The Collaborative International Dictionary of English
forfeiture — mid 14c., from O.Fr. forfaiture crime, transgression; penalty for committing a crime, from forfait (see FORFEIT (Cf. forfeit)) … Etymology dictionary
forfeiture — [fôr′fə chər] n. 1. the act of forfeiting 2. anything forfeited; penalty or fine … English World dictionary
forfeiture — /forfatyar/ A comprehensive term which means a divestiture of specific property without compensation; it imposes a loss by the taking away of some preexisting valid right without compensation. L & K Realty Co. v. R.W. Farmer Const. Co., Mo.App.,… … Black's law dictionary
forfeiture — UK [ˈfɔː(r)fɪtʃə(r)] / US [ˈfɔrfɪtʃər] noun [countable/uncountable] Word forms forfeiture : singular forfeiture plural forfeitures legal the loss of a right, a benefit, or something that you own because you have failed to do something or have… … English dictionary
forfeiture — [[t]fɔ͟ː(r)fɪtʃə(r)[/t]] forfeitures N VAR: oft N of n Forfeiture is the action of forfeiting something. [LEGAL] ...the forfeiture of illegally obtained profits... Both face maximum forfeitures of about $1.2 million … English dictionary
forfeiture — /fawr fi cheuhr/, n. 1. an act of forfeiting. 2. something that is forfeited; fine; mulct. [1300 50; ME forfeiture, forfeture < OF. See FORFEIT, URE] * * * … Universalium
forfeiture — for|feit|ure [ˈfo:fıtʃə US ˈfo:rfıtʃər] n [U and C] formal when someone has their property or money officially taken away because they have broken a law or rule ▪ Refusal to sign meant forfeiture of property and exile … Dictionary of contemporary English
forfeiture — for|fei|ture [ fɔrfıtʃər ] noun count or uncount LEGAL the loss of a right, a benefit, or something you own because you have failed to do something or have done something wrong: They risked forfeiture if they were late with the payment … Usage of the words and phrases in modern English