bona fide purchaser

One who purchases a chattel for value, without notice of a defect in the title of the person from whom he purchased or of the right of a seller in the chain of title to avoid or rescind the sale which he made. 46 Am J1st Sales § 465. One who purchases real estate with an honest purpose and for a valuable consideration, without knowledge or notice of outstanding interests or of facts or circumstances from which his knowledge of outstanding interests should be implied. 55 Am J1st V & P § 687. Possession of realty by one other than the grantor is sufficient to require the purchaser to make inquiry as to the rights of such other person in possession. Holgerson v Gard, 257 Ala 579, 60 So 2d 427, 33 ALR2d 1315. To constitute one a bona fide purchaser entitled to priority over one claiming under a prior equity or conveyance, he must be the purchaser of the legal title, as distinguished from the equitable title, in good faith, for value, without notice, at or before the time of parting with the consideration of such other's equity or conveyance. Larkins v Howard, 252 Ala 9, 39 So 2d 224, 7 ALR2d 541. See holder in due course.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • bona fide purchaser — bona fide pur·chas·er n: a purchaser who purchases in good faith without notice of any defect in title and for a valuable consideration – called also bona fide purchaser for value; ◇ There are particular requirements for a bona fide purchaser of… …   Law dictionary

  • Bona fide purchaser — A bona fide purchaser (BFP)ndash referred to more completely as a bona fide purchaser for value without noticendash is a term used in the law of real property and personal property to refer to an innocent party who purchases property without… …   Wikipedia

  • bona fide purchaser — One who has purchased property for value without any notice of any defects in the title of the seller. Walters v. Calderon, 25 Cal.App.3d 863, 102 CaLRptr. 89, 97. One who pays valuable consideration, has no notice of outstanding rights of others …   Black's law dictionary

  • bona fide purchaser —    In finance, an individual who has bought an asset (e.g., a promissory note, bond or other negotiable instrument) for a stated amount, unaware of any facts that would have cast doubt on the right of the seller to have sold it in good faith… …   Business law dictionary

  • bona fide purchaser — noun : a purchaser who buys in good faith without notice of any defect and for a valuable consideration …   Useful english dictionary

  • bona fide purchaser — person who truly intends to buy something …   English contemporary dictionary

  • bona fide purchaser for value — USA bona fide purchaser, Also known as BFP, bona fide purchaser for value, good faith purchaser, innocent purchaser for value, purchaser in good faith …   Law dictionary

  • bona fide — bo·na fide / bō nə ˌfīd, bä nə ; ˌbō nə fī dē, fī də/ adj [Latin, in good faith] 1 a: characterized by good faith and lack of fraud or deceit a bona fide offer b: valid under or in compliance with the law retirement incentives made part of a bona …   Law dictionary

  • Bona fide — Bo na fi de [L.] In or with good faith; without fraud or deceit; real or really; actual or actually; genuine or genuinely; as, you must proceed bona fide; a bona fide purchaser or transaction. [1913 Webster] || …   The Collaborative International Dictionary of English

  • bona fide — /bowna faydiy/bowna fayd/ In or with good faith; honestly, openly, and sincerely; without deceit or fraud. Merrill v. Dept. of Motor Vehicles, 71 Cal.2d 907, 80 CaLRptr. 89, 458 P.2d 33. Truly; actually; without simulation or pretense.… …   Black's law dictionary

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