bona fide purchaser

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Bona Fide Purchaser

The purchaser of a property who does not know the seller lacks the right to sell it. The bona fide purchaser, because he is unaware of competing claims to the property, is usually considered the proper owner. However, most of the time the owner with the true claim to the property may sue the seller. In any case, the bona fide purchaser is held harmless in the transaction.

bona fide purchaser (BFP)

One who purchases property in good faith and for a valuable consideration without knowledge,actual or constructive,of the seller's title defects.Under certain circumstances,BFPs may retain the property free and clear of the claims of others.(As a practical matter,it is difficult to be a BFP of real property because of the constructive notice provided by public filings of almost all real estate-related claims.)
References in periodicals archive ?
Fortunately, Equity's Darling was his seventh winner and he will be carrying on.
Equity's Darling was the first to spoil the party, putting her best foot forward in the Showcase handicap to complete a treble at the expense of Whitechapel, who was having his first run over hurdles for five years.
Dan O'Brien doubled his score of last season when Equity's Darling followedup her surprise win at Lingfield to make it six for the Tonbridge trainer.