A "bona fide purchaser" takes title in good faith, with no knowledge of competing claims to title.
Who is bona fide purchaser?
The bona fide purchaser (also known as a bona fide purchaser at value but without notice) is someone who has paid full price for the property and is unaware of any pending interest held any third parties.
Some key features regarding the bona fide purchaser are-
- In many states, the buyer should meet the given requirements in order to be fully safeguarded by the recording statute.
- In general, the goal of these conditions is to prohibit a seller from offering up part or all of the property to another in order to escape creditors who could otherwise establish a lien on the property.
- A genuine purchaser is effectively insulated from any documented equities or interests that the title may have been subject to if the seller/prior owner had never ceded title.
To know more about the bona fide purchaser, here
https://brainly.com/question/15027738
#SPJ4
