forfeiture

/ˈfɔːfɪtʃər/ noun [C or U] LAW

Definition

› 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.

(Definition of forfeiture noun from the Cambridge Business English Dictionary © Cambridge University Press)

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