Forfeiture


Definition of "Forfeiture"

Chuck Shaw
Chuck Shaw Exit Realty Bob Lamb & Associates

Loss of property from nonfulfillment of some duty or condition. In some cases, forfeiture is required by a court order, whereas in other cases the nonfulfillment of a contractual debt is enough to result in forfeiture. For example, the loss of a lease can result from the failure to pay rent on time.

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