Forfeiting financial definition of Forfeiting
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Related to Forfeiting: Forfaiting
The loss of a right or property
. Forfeiture usually occurs when one has neglected to fulfill one's obligations necessary to keep the right or property. For example, one may forfeit one's house if the mortgage defaults
References in periodicals archive
The statutory basis for forfeiting
homes and businesses of tax evaders is already in place.
Many of the shoppers who didn't follow-up on a price match guarantee indicated they didn't have time to track these offers or didn't have time to go to the store to get the refund, while those forfeiting
rebates either forgot about it, lost the form or didn't bother claiming it because it was too complicated.
Instead of forfeiting
$84,000, Guillen will forfeit about $24,000.