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'forfeits' is a correct and usable word in written English
You can use it when someone gives up a right, claim, or property because of a breach of obligation. Example sentence: After he failed to fulfill his contractual obligations, he was forced to forfeit his deposit.
Dictionary
forfeits
verb
Third person singular of forfeit
Exact(60)
But does this mean that a politician who rules out a presidential run forfeits a national platform It is hard to think of many counter-examples.
It is self-defeating, since a country without allies forfeits influence the more it stands alone.
Any candidate who exceeds the limit forfeits the seat (if elected) and is banned from standing for political office for a year.Any party with an officially recognised "group" (of at least 20 deputies) in the outgoing parliament has a share in three hours of free television time.
Catastrophe or "cat"—bonds yield investors much more than ordinary bonds; but in the event of the catastrophe insured against, the investor forfeits all or part of the principal.
He has neither.The uncomfortable reality, of course, is that when a government looks politically doomed, as Mr Brown's does, it forfeits diplomatic clout: why cultivate a prime minister who may soon get the push?
An airline is usually able to walk away from an option deal if it forfeits the modest deposit paid.
Anyone who does so forfeits his right to life and property; his womenfolk may be captured and enslaved.Such peculiar takes on morality have long alarmed liberal-minded Saudis, as well as the 1m-odd Saudis who are Shia Muslims, and so happen to venerate the shrines of sundry saints and martyrs.
The bet is ultimately resolved in Faust, Part II (1832), in favour of God contrary to the Renaissance tradition in which Faust forfeits his soul.
If a player is unable to use any part of the acey-deucey roll, however, he forfeits the rest of his turn.
Either no member of the human race has any true rights, or else they all have the same ones; and anyone who votes against the rights of another, whatever his religion, colour or sex, automatically forfeits his own.
There are also a number of other forfeits paid into the pool for such errors as pocketing one's own ball or knocking a ball off the table.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com