Forfeiture Legal Meaning and Definition

Here is a simplified definition of the legal term Forfeiture.

Forfeiture (noun): This is a legal term that refers to when a person, business, or organization loses their rights to property, money, or other belongings because they haven't met certain legal requirements. For example, if someone bids on a house but doesn't follow through on the purchase agreement, they might experience forfeiture of their deposit.