The phrase "forfeit ownership" is correct and usable in written English.
It can be used in contexts where someone relinquishes or gives up their rights to property or an asset.
Example: "If you fail to make the required payments, you may forfeit ownership of the vehicle."
Alternatives: "relinquish ownership" or "surrender ownership."
Jamie McCourt claims that the team is shared property; the agreement isn't valid because she was not advised that she would be forfeiting ownership rights in the case of divorce.
And seven years after buying the company, Bain forfeited its remaining ownership stake.
The ban is an anachronism: it dates back to the days before universal suffrage, when felons forfeited their property, ownership of which was a condition for voting.
Over the strenuous objections of Border unionists and Democrats — the 37th Congress's first serious partisan breach — both houses passed a bill that confiscated all slaves utilized in the Confederate war effort and declared that their masters would "forfeit" their claims to ownership.
"Hiving off their audiences to intermediary, consumer-facing platform brands means they are forfeiting direct relationships and ultimately ownership for short-term potential monetary gains".
During the Great Leap Forward (1958 60), individuals forfeited their private plots to common ownership and wages were equalized.
A society that concedes individual gun ownership is in danger of forfeiting the right to self-determination that was exactly what the founding fathers fought to maintain.
In fact, the vendor who first claims ownership of the stream will immediately forfeit it.
Mistakenly believing that he had the authority to determine the validity of existing land claims, Edwards, in September, demanded written proof of ownership, or their land would be forfeited and sold at auction.
