forfeiture(redirected from Asset forfeiture)
Also found in: Thesaurus, Legal, Financial, Encyclopedia, Wikipedia.
1. The act of surrendering something as a forfeit.
2. A loss of property to penalize a failure to act in accordance with a legal requirement.
1. something forfeited
2. the act of forfeiting or paying a penalty
for•fei•ture(ˈfɔr fɪ tʃər)
1. an act of forfeiting.
2. something that is forfeited; fine; mulct.
[1300–50; Middle English < Old French]
Switch to new thesaurus
|Noun||1.||forfeiture - something that is lost or surrendered as a penalty;|
loss - something that is lost; "the car was a total loss"; "loss of livestock left the rancher bankrupt"
|2.||forfeiture - a penalty for a fault or mistake that involves losing or giving up something; "the contract specified forfeits if the work was not completed on time"|
penalty - a payment required for not fulfilling a contract
|3.||forfeiture - the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.|