Forfeiture Definition and Legal Meaning

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

What is Forfeiture?

(n) Forfeiture is the process by which a person lose the right on his property, article or claim due to his failure to fulfill the legal obligation. Eg. Forfeiture of earnest Money Deposit, when the bidder fails to execute the agreement or accept the awarded bid.