Definitions

1. noun

The act of surrendering or giving up something, especially money or property, as a penalty or punishment.

“The company was fined $1 million and faced a forfeiture of $10 million in revenue due to their fraudulent activities.”

2. noun

Something that is surrendered or given up as a penalty or punishment.

“The forfeiture of her inheritance was devastating for her family.”

3. verb

To surrender or give up something, especially money or property, as a penalty or punishment.

“The state intends to forfeit the assets of the corrupt official.”