what is forfeiture?
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What is 'Forfeiture' DEFINITION of 'Forfeiture'. The loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for an illegal conduct.
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FAQ: Forfeiture Accounts Forfeitures are also generated upon ACP test failures where the corrective matching contribution refunds required are not 100% vested. Forfeiture dollars are placed in a forfeiture account for later use by the plan sponsor. If the employer contribution is not subject to a vesting schedule, forfeitures generally do not accrue within the plan.
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Forfeit (baseball) Forfeit (baseball) From Wikipedia, the free encyclopedia. In rare cases, baseball games are forfeited, usually when a team is no longer able to play. In the event of forfeiture, the score is recorded as 9-0, as stated in rule 2.00 of the Major League Baseball Rules Book.
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What is Bond Forfeiture? A bond forfeiture occurs when the defendant doesn’t show up in court, and the company or person who put up the bond must pay the defendant’s outstanding bail amount. A forfeited bond becomes the property of the jurisdiction overseeing the case, and it cannot be refunded.
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DEFINITION OF THE FAKE DRUGS In the case of consumer goods, counterfeiting is therefore a fraudulent copy (which can be identical to the original) associated with the will to deceive: the purpose of the counterfeiter is to create confusion between the original product (victim of the forgery) and the fake copy he proposes.
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What Happens When a Bond is Revoked or Forfeited? When bail is revoked, the defendant has the opportunity to argue against the revocation and explain his behavior in a court hearing. Forfeiting the Bond. If the court upholds the bail revocation, the defendant's bond will be forfeited and the defendant returns to jail. This means that the court can seize the money or property used to make the defendant's bail. The bail guarantor also may have to pay a bail bond fee.
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Real Property Tax Forfeiture and Foreclosures Real property taxes which remain unpaid as of March 31 in the third year of delinquency are foreclosed upon by the Foreclosing Governmental Unit (FGU). The FGU is responsible for inspecting forfeited property, providing due process notifications and subsequent disposition of the tax foreclosed property.
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Asset forfeiture Asset forfeiture or asset seizure is a form of confiscation of assets by the state. It typically applies to the alleged proceeds or instruments of crime. This applies, but is not limited, to terrorist activities, drug related crimes, and other criminal and even civil offenses. Some jurisdictions specifically use the term confiscation instead of forfeiture. The purpose of asset forfeiture is to disrupt criminal activity by confiscating assets that potentially could have been beneficial to the individual or organization.
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- The registrar shall not be required to give effect to any declaration of forfeiture or order terminating a forfeiture provided by a court under this section unless the information contained in the declaration or order is transmitted to the registrar by means of an electronic transfer system.
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- Recent Examples of forfeiture from the Web. 1  The money will come from the Bureau of Criminal Investigation (BCI) asset forfeiture/cost reimbursement funds. 2  Asset forfeiture disproportionately victimizes the poor, racial minorities, and others who lack resources and political clout.
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- Here are all the possible meanings and translations of the word forfeit. Princeton's WordNet(4.50 / 2 votes)Rate this definition: forfeit, forfeiture(noun) something that is lost or surrendered as a penalty; forfeit, forfeiture(noun) a penalty for a fault or mistake that involves losing or giving up something.
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- 8 meanings of EURO acronym and EURO abbreviation. Get the definition of EURO by All Acronyms dictionary. Top Definition: Euro Currency
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Glossary of Tax Terms If a borrower does default on a loan (due to insolvency or other event), that borrower forfeits (gives up) the property pledged as collateral, with the lender then becoming the owner of the property.
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What Is Bail Forfeiture? The length of time from when a court appearance is missed and the order for bond forfeiture depends on the jurisdiction and the nature of the crime involved. As a practical rule, however, once the defendant is recaptured, he will be returned to jail to await trial and have his bail revoked.
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- (2)(a) If there is a breach of the bond, the court shall declare the bond and any bonds or money deposited as bail forfeited. The clerk of the court shall mail or electronically transmit a notice to the surety agent and surety company within 5 days after the forfeiture.
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- Lapse definition - Eccl. law. The transfer, by forfeiture, of a right or power to present or collate to a vacant benefice, from, a person vested with such right, to another, in consequence of some act of negligence of the former. Ayl. Parerg. 331.
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Definitions &Translations Forfeit(noun) a thing forfeit or forfeited; what is or may be taken from one in requital of a misdeed committed; that which is lost, or the right to which is alienated, by a crime, offense, neglect of duty, or breach of contract; hence, a fine; a mulct; a penalty; as, he who murders pays the forfeit of his life.
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"Federal Forfeiture states ""money judgement"" please clarify" Posted January 1, 2012 6:49pm. Forfeiture simply means that the government is going to keep whatever money or property you were arrested with. It can be pled separately, or filed as a separate action. US v One Chevrolet Corvette is the way the forfeiture action alone is pled. Apparently yours was joined to your other counts.
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- tr.v. for·feit·ed, for·feit·ing, for·feits. 1  1. To lose or give up (something) on account of an offense, error, or failure to fulfill an agreement: The other team did not show up in time and so forfeited the game. 2  2. To subject to seizure as a forfeit. n. 1. Something that is lost or given up on account of an offense, error, or failure to fulfill an agreement. 2. The act of forfeiting: The team lost the game by forfeit. 3. a. In parlor games, an item placed in escrow and redeemed by paying a fine or performing an appointed task. b.
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List of United States naval aircraft List of United States naval aircraft. Naval aviation of the United States. Naval aircraft currently used by the United States Navy and the United States Marine Corps. For a complete list of naval aircraft designated under the pre-1962 United States Navy designation system, see List of military aircraft of the United States (naval).
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forfeit 1250-1300; Middle English forfet < Old French (past participle of forfaire to commit crime, to lose possession or right through a criminal act) < Medieval Latin forīs factum penalty, past participle of forīs facere to transgress, equivalent to Latin forīs outside, wrongly + facere to make, do.
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List of district attorneys by county County OR judicial circuit / district and county / counties covered Name of county / district / state's attorney; Alabama: 1st (Choctaw, Clarke and Washington) Spencer B. Walker: 2nd (Butler, Crenshaw and Lowndes) Charlotte Tesmer: 3rd (Barbour and Bullock) Ben C. Reeves, Jr. 4th (Bibb, Dallas, Hale, Perry and Wilcox) Michael W. Jackson
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Asset Forfeiture Abuse Police abuse of civil asset forfeiture laws has shaken our nation’s conscience. Civil forfeiture allows police to seize — and then keep or sell — any property they allege is involved in a crime.Owners need not ever be arrested or convicted of a crime for their cash, cars, or even real estate to be taken away permanently by the government.ivil forfeiture allows police to seize — and then keep or sell — any property they allege is involved in a crime. Owners need not ever be arrested or convicted of a crime for their cash, cars, or even real estate to be taken away permanently by the government.
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- Bond: in criminal court, a term meaning the same thing as “bail;” generally a certificate or evidence of a debt. Bond Forfeiture: a hearing to determine if the bond on a defendant is to be forfeited after a defendant fails to show for court. Forfeited bond money goes to the public schools.
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- Throughout the entire landlord-tenant act, forfeiture of the security deposit is contemplated only in A.R.S. § 33-1370(B), which relates to tenant abandonment of the rental premises.
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Counterfeiting Counterfeiting is a criminal offense that involves fraudulently manufacturing and distributing an item of lesser value than the genuine product, usually for the purpose of monetary gain.