Forfeit Very Common

something that is lost or surrendered as a penalty

"The team had to forfeit their championship trophy after failing to appear for the final game."

a penalty for a fault or mistake that involves losing or giving up something

"the contract specified forfeits if the work was not completed on time"

the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.

"After missing three consecutive free throws, the basketball player had to forfeit his turn at the buzzer."

A penalty for or consequence of a misdemeanor.

"The referee ordered the team to forfeit their victory because they arrived at the stadium twenty minutes late."

lose (s.th.) or lose the right to (s.th.) by some error, offense, or crime

"you've forfeited your right to name your successor"

"forfeited property"

To suffer the loss of something by wrongdoing or non-compliance

"The team had to forfeit their championship title after failing to appear for the final match."

surrendered as a penalty

"The team forfeited their match after arriving three hours late to the stadium."

Lost or alienated for an offense or crime; liable to penal seizure.

"The gambler forfeited his winnings when he was caught cheating, and the casino immediately seized all the chips on the table as a penalty."