FORFEIT meaning: 1. to lose the right to do or have something because you have broken a rule: 2. to decide not to…. Learn more. The meaning of FORFEIT is something forfeited or subject to being forfeited (as for a crime, offense, or neglect of duty) : penalty. How to use forfeit in a sentence. forfeit definition: lose or give up something as a penalty for wrongdoing. Check meanings, examples, usage tips, pronunciation, domains, and related words. Discover expressions like "pay a forfeit", "someone's life was forfeit". FORFEIT definition: 1. to lose the right to do or have something because you have broken a rule: 2. to decide not to…. Learn more.