forfeit definition

1. something that is lost or surrendered as a penalty
2. a penalty for a fault or mistake that involves losing or giving up something
• examples: the contract specified forfeits if the work was not completed on time
3. the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.
4. lose (s.th.) or lose the right to (s.th.) by some error, offense, or crime
• examples: you've forfeited your right to name your successor
• examples: forfeited property