bona fide purchaser

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 a security set out in Uniform Commercial Code section 8-302. Under this section a bona fide purchaser is one who buys a security in good faith and without notice of any adverse claims and who takes delivery of a certificated security either as a bearer security or as a registered security issued to him or her or endorsed to him or her or by a blank endorsement or to whom the transfer of an uncertificated security is registered on the books of the issuer, or as otherwise provided in section 8-313.

Merriam-Webster’s Dictionary of Law. . 1996.

bona fide purchaser
n.
Someone who buys property in good faith for valuable consideration and has no reason to believe anyone else has rights to the property.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


bona fide purchaser
Someone who purchased something with no reason to believe that the property belonged to someone else or that the property was subject to another party's claim. The purchaser must have paid a full and fair price for the property and have received the item in the normal course of business. (See also: holder in due course)
Category: Business, LLCs & Corporations

Nolo’s Plain-English Law Dictionary. . 2009.

bona fide purchaser
USA
Innocent purchaser of property who purchases for value without notice of any other party's claim against the property. So long as a bona fide purchaser properly records the transaction, the bona fide purchaser takes good title to the property despite competing adverse claims. Those parties holding competing adverse claims may bring an action only against the party who fraudulently transferred the property to the bona fide purchaser.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

bona fide purchaser
n.
   commonly called BFP in legal and banking circles; a person who has purchased an asset (including a promissory note, bond or other negotiable instrument) for stated value, innocent of any fact which would cast doubt on the right of the seller to have sold it in good faith. This is vital if the true owner shows up to claim title, since the BFP will be able to keep the asset, and the real owner will have to look to the fraudulent seller for recompense.
   See also: BFP, holder in due course

Law dictionary. . 2013.

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Look at other dictionaries:

  • 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 — 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 — 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… …   Ballentine's law 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 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 — 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

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