forfeiture
Definition
Automatic loss of ownership right (title) to personal or real property for not complying with a legal provision, or as a court ordered compensation for loss or damage to a plaintiff. Forfeiture clause in a lease gives the lessor the right to cancel the lease and reenter the property on non-payment of rent.
forfeiture is in the Banking, Commerce & Finance, Corporate, Commercial, & General Law and Real Estate & Buildings subjects.
forfeiture appears in the definitions of the following terms: early withdrawal penalty, articles of association, corporation act, frozen account and forfeiture clause
forfeiture appears in these other term: forfeiture of bond
This content can be found on the following page:
http://www.businessdictionary.com/definition/forfeiture.html
email to a friend
print this definition
cite this definition
link to this page
