forfeit

/ˈfɔːfɪt/ verb [T]

Definition

› LAW to lose the right to have or do something because you have not obeyed a rule or law: Over several years, the district forfeited $51 million by failing to spend the money within the deadlines set by the government.forfeit a claim/right (to sth/to do sth) She forfeited her right to benefits because she did not notify the authorities of her change in circumstances.forfeit sth to sb/sth Illegally shipped cigarettes will be seized and forfeited to the state.

› to agree to give away the right to have or do something: A culture of long hours and time forfeited in favour of money is now becoming routine.

(Definition of forfeit verb from the Cambridge Business English Dictionary © Cambridge University Press)