Bona Fide Purchaser


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Bona Fide Purchaser

 

in civil law, a person who has acquired property without knowing that the person from whom he has acquired it did not have the right to sell, give, or exchange it. The sale of stolen or found goods, in particular, is unlawful. The bona fide purchaser is the person who not only did not know but also should not have known and could not have known of the unlawfulness of his acquisition. This means that when acquiring a particular article one must exercise caution; for example, the acquisition of an article at too low a price under suspicious circumstances may serve as the basis for concluding that the purchaser, although he did not know for certain, could have and should have assumed that he was acquiring a stolen article. A purchaser who knew or should have known of the unlawfulness of the transaction is recognized as a bad-faith purchaser.

Good faith in acquisition is very important in the recovery by an owner of property in the unlawful possession of another person; for example, in Soviet civil law money and securities may not be recovered from a bona fide purchaser. If property has been purchased for value by a bona fide purchaser, the owner may recover his property from the purchaser only in cases that are strictly defined by law (Civil Code of the RSFSR, arts. 152 and 153).

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the property and a bona fide purchaser no deal has been effected, the
Barrow J's appeal to the general principle animating title registration, as famously articulated by Lord Watson in Gibbs v Messer--that a purchaser should be able to rely on the state of title as depicted in the land registry-- revealed his preference for a robust title registration system that operates to secure the interests of bona fide purchasers.
To protect C's investment as bona fide purchaser who paid full value for the land because the title on the record was unencumbered, the courts created an exception to the requirement that the buyer from C have no notice of the mortgage in order to be able to invoke the Recording Act.
18) The majority of texts opined that section 43 was only protective of bona fide purchasers for value without notice, that is, buyers in good faith paying a fair purchase price and wholly unaware of any irregularities regarding the vendor's right to sell.
A trustee in bankruptcy has the rights of a so-called "hypothetical lien creditor": a bona fide purchaser of real property or a judicial lien creditor, regardless of whether such purchaser or creditor exists.
In the Texas statute at issue, unrecorded conveyances are void as to creditors and bona fide purchasers without notice, but between the parties and as to purchasers with notice or who have not given valuable consideration, such conveyances are valid and binding.
02 and does not affect reliance rights of creditors and bona fide purchasers without notice with respect to instruments executed by the "mortgagee of record" as determined under [subsections] 701.
Bona fide purchasers would then qualify for federal liability protection against lawsuits filed by the federal government or third parties if they fulfill the inquiry requirements and have taken good care of the property.
Other relevant portions of the administration's bill which impact municipalities include the conditional exemption from liability for bona fide purchasers of contaminated property, and the provision of technical assistance to municipalities to conduct site characterizations for facilities at which voluntary response actions are being conducted.
obtained valid legal title to the Bahia Emerald and alleges that it also has an equitable claim to title as bona fide purchasers of the Bahia Emerald based on its seven-figure payment for the Bahia Emerald.
The current rent is PS27,500 a year plus VAT and a full inventory would be made available to bona fide purchasers.