Innocent Purchaser For Value


Innocent Purchaser For Value

Someone who unknowingly purchases assets that have been involved in fraud. An innocent purchaser for value can exist in any number of situations, from the buying of real estate to the buyings of art. Because the purchaser lacked knowledge of the crime, he may have the legal right to keep the property. The recovery of such property by the original owner is subject to a statute of limitations.

Innocent purchaser for value situations can be tricky, as there may be more than one party with an honest claim to the property (the original owner who was defrauded and the innocent purchaser for value), but the courts must ultimately assign the property to a single entity. How this situation is handled varies by case and jurisdiction.


Investment dictionary. . 2012.

Look at other dictionaries:

  • innocent 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 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

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

  • innocent — in·no·cent / i nə sənt/ adj: characterized by innocence Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. innocent I …   Law dictionary

  • purchaser — One who acquires real property in any other mode than by descent. One who acquires either real or personal property by buying it for a price in money; a buyer; vendee. One who has contracted to purchase property or goods. Also, a successful… …   Black's law dictionary

  • 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

  • good-faith purchaser — 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 — 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

  • BFP — Slang for bona fide purchaser. Category: Business, LLCs & Corporations → Buying or Selling a Business Category: Real Estate & Rental Property → Buying a House Nolo’s Plain English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009 …   Law dictionary

  • Misrepresentation in English law — is an area of English contract law, which allows a person to escape a contractual obligation or claim compensation for losses. If one person can show that she entered an agreement because of another person s false assurances, then the other… …   Wikipedia


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