for·fei·ture /'fȯr-fə-ˌchu̇r/ n
1: the loss of a right, money, or esp. property because of one's criminal act, default, or failure or neglect to perform a duty compare waiver
2: something (as money or property) that is forfeited as a penalty
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.