forfeiture


forfeiture
/forfatyar/ A comprehensive term which means a divestiture of specific property without compensation; it imposes a loss by the taking away of some preexisting valid right without compensation. L & K Realty Co. v. R.W. Farmer Const. Co., Mo.App., 633 S.W.2d 274, 279.
A deprivation or destruction of a right in consequence of the nonperformance of some obligation or condition. Loss of some right or property as a penalty for some illegal act. Loss of property or money because of breach of a legal obligation (e.g. default in payment). Forfeiture of property (including money, securities, and real estate) is one of the penalties provided for under certain federal and state criminal statutes (e.g., RICO and Controlled Substances Acts). Such forfeiture provisions apply to property used in the commission of a crime under the particular statutes, as well as property acquired from the proceeds of the crime. See, e.g., 18 U.S.C.A. No.No. 981, 982 (criminal and civil forfeiture), 21 U.S.C.A. No. 853 (forfeiture in drug cases).
In old English law, the loss of land by a tenant to his lord, as the consequence of some breach of fidelity. The loss of goods or chattels, as a punishment for some crime or misdemeanor in the party forfeiting, and as a compensation for the offense and injury committed against him to whom they are forfeited.
See also confiscate

Black's law dictionary. . 1990.

Synonyms:

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  • forfeiture — for·fei·ture / fȯr fə ˌchu̇r/ n 1: the loss of a right, money, or esp. property because of one s criminal act, default, or failure or neglect to perform a duty compare waiver 2: something (as money or property) that is forfeited as a penalty… …   Law dictionary

  • Forfeiture — For fei*ture (?; 135), n. [F. forfeiture, LL. forisfactura.] 1. The act of forfeiting; the loss of some right, privilege, estate, honor, office, or effects, by an offense, crime, breach of condition, or other act. [1913 Webster] Under pain of… …   The Collaborative International Dictionary of English

  • forfeiture — mid 14c., from O.Fr. forfaiture crime, transgression; penalty for committing a crime, from forfait (see FORFEIT (Cf. forfeit)) …   Etymology dictionary

  • forfeiture — [fôr′fə chər] n. 1. the act of forfeiting 2. anything forfeited; penalty or fine …   English World dictionary

  • forfeiture — The loss of rights to an asset outlined in a legal contract if a party fails to fulfill obligations of the contract. Bloomberg Financial Dictionary * * * forfeiture for‧fei‧ture [ˈfɔːftʆə ǁ ˈfɔːrftʆər] noun [uncountable] 1. LAW when someone… …   Financial and business terms

  • forfeiture — UK [ˈfɔː(r)fɪtʃə(r)] / US [ˈfɔrfɪtʃər] noun [countable/uncountable] Word forms forfeiture : singular forfeiture plural forfeitures legal the loss of a right, a benefit, or something that you own because you have failed to do something or have… …   English dictionary

  • forfeiture — [[t]fɔ͟ː(r)fɪtʃə(r)[/t]] forfeitures N VAR: oft N of n Forfeiture is the action of forfeiting something. [LEGAL] ...the forfeiture of illegally obtained profits... Both face maximum forfeitures of about $1.2 million …   English dictionary

  • forfeiture — /fawr fi cheuhr/, n. 1. an act of forfeiting. 2. something that is forfeited; fine; mulct. [1300 50; ME forfeiture, forfeture < OF. See FORFEIT, URE] * * * …   Universalium

  • forfeiture — for|feit|ure [ˈfo:fıtʃə US ˈfo:rfıtʃər] n [U and C] formal when someone has their property or money officially taken away because they have broken a law or rule ▪ Refusal to sign meant forfeiture of property and exile …   Dictionary of contemporary English

  • forfeiture — for|fei|ture [ fɔrfıtʃər ] noun count or uncount LEGAL the loss of a right, a benefit, or something you own because you have failed to do something or have done something wrong: They risked forfeiture if they were late with the payment …   Usage of the words and phrases in modern English


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