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

  • Two of the company investors were in danger of forfeiture of their rights to any part of the profits from selling the business to a competitor due to their minimal involvement in its daily operation.

    Was this Helpful?   (25)   (0)
  • The forfeiture experienced by the individual was fair as they missed their payment on the property so the bank took ownership.

    Was this Helpful?   (25)   (0)
  • If I signed the contract, it would result in the forfeiture of my current contract with the team I was currently playing for.

    Was this Helpful?   (25)   (0)
Show more usage examples...

Related Videos




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

Mentioned in these terms

Have a question about forfeiture? Ask for help in the
Community
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