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.

Use forfeiture in a sentence

Related Videos




http://www.businessdictionary.com/definition/forfeiture.html

Mentioned in these terms

advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z