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LSDefine
Simple English definitions for legal terms
nonforfeitable
Read a random definition: M.O.
A quick definition of nonforfeitable:
Nonforfeitable: When something is nonforfeitable, it means that it cannot be taken away as a punishment or penalty. For example, if you have a nonforfeitable right to something, it means that no one can take it away from you. On the other hand, forfeiture means losing something as a penalty for doing something wrong, like losing money or property because of a crime.
A more thorough explanation:
Definition: Not subject to forfeiture. Forfeiture is the loss of a right, privilege, or property because of a crime, breach of obligation, or neglect of duty. Nonforfeitable means that something cannot be taken away as a penalty or punishment.
Example: A nonforfeitable pension plan is a retirement plan where the employee has a guaranteed right to receive the benefits, even if they leave the company before retirement age. The benefits cannot be taken away as a penalty or punishment.
This example illustrates the definition of nonforfeitable because the employee's pension benefits are protected and cannot be forfeited, even if they leave the company before retirement age.