forfeit

(noun) something that is lost or surrendered as a penalty;. Synonyms: forfeiture.

(noun) a penalty for a fault or mistake that involves losing or giving up something. Synonyms: forfeiture. Example: "The contract specified forfeits if the work was not completed on time."

(noun) the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.. Synonyms: forfeiture, sacrifice.

(verb) lose (s.th.) or lose the right to (s.th.) by some error, offense, or crime. Synonyms: give up, throw overboard, waive, forgo, forego. Examples: "You've forfeited your right to name your successor." "Forfeited property."

(adj) surrendered as a penalty. Synonyms: confiscate, forfeited.