Forfeit Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Forfeit, written in plain English, along with examples of how it is used.

What is Forfeit?

(v) Forfeit is the losing of the right on any property, article or claim by the intervention of any action or event connected to such right or claim due to a failure to fulfill the legal obligation. A seller can forfeit the advance paid by the buyer if he fails to purchases the property before the agreed date.