forfeit

Adjective

• surrendered as a penalty

Noun

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

• 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
    

• something that is lost or surrendered as a penalty;

Verb

• 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
    

Related words

• Synonyms: 
  confiscate , forfeited , forfeiture , sacrifice , give up , throw overboard , waive , forgo , forego
• Antonyms: 
  claim , lay claim , arrogate