Meaning of the word forfeiture in English

What does forfeiture mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

forfeiture

US /ˈfɔːr.fə.tʃɚ/
UK /ˈfɔː.fɪ.tʃər/

Noun

the loss of rights, property, or money, especially as a result of breaking a legal agreement:

Example:
He was deep in debt and facing forfeiture of his property.