Forfeiture

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Forfeiture

The loss of rights to an asset outlined in a legal contract if a party fails to fulfill obligations of the contract.

Forfeiture

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.

forfeiture

The loss of rights to something as a result of a failure to perform an obligation.Courts often view forfeitures as penalties,which are illegal.As a result,one who is buying property under a bond for title and will receive a deed only when all payments have been made may be protected from a forfeiture if there is a default after a substantial amount of money has already been paid.

References in periodicals archive ?
They both previously worked for the Wayne County Prosecutors office in the drug / prostitution asset forfeiture department, and later as criminal defense attorneys.
12) CAFRA also led to a substantial increase in forfeiture since it boosted the number of offenses subject to civil asset forfeiture at the federal level (Kelly and Kole 2013, pp.
The Washington Post reported last September that the value of properties taken in civil asset forfeitures by the federal Department of Justice during a five-year period nearly doubled in an inflation-adjusted dollar count, from $508 million in 2008 to $1.
239) The COPS bulletin is quite explicit about the matter: "Though it is an enforcement tool, asset forfeiture can assist in the budgeting realm by helping to offset the costs associated with fighting crime.
While this matter is still pending in court, the provisions of the Proceeds of Crime Act allows the Asset Forfeiture Unit to seize and preserve the assets of an accused until the case is finalised.
Federal asset forfeiture laws permit the government to take title to money and property belonging to criminals based on proof often developed in conjunction with an overall investigation.
Researchers and practitioners consider such topics as white-collar and corporate crime, rethinking the conceptual definitions of criminal career and serial criminality, asset forfeiture in Ireland, inter-country adoption and human rights violation in India, jurisdictional and definitional issues of cyber-stalking, and Native American Indian tribal and community and tertiary power.
Federal asset forfeiture divests one who owns criminally obtained
Asset forfeiture funds and campaign resources are often untapped sources of revenue.
The DEA's campaign includes elevating OxyContin to the status of other schedule II substances and using "aggressive undercover investigation, asset forfeiture, and informers," he noted.
The paper said that the grand-jury activity was instigated by the New York Asset Forfeiture Task Force, an ad-hoc law enforcement group that includes the New York City and Nassau County police departments, the U.

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