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LSDefine

Simple English definitions for legal terms

bona fide purchaser for value

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A quick definition of bona fide purchaser for value:

A bona fide purchaser for value is someone who buys something for money or something else valuable without knowing that someone else has a claim to it or any problems with the seller's ownership. They are considered innocent and have the right to the property they bought. It can apply to buying anything, like a house or a car.

A more thorough explanation:

A bona fide purchaser for value is someone who buys property for money or other valuable consideration without knowing about any other claims to the property. They have paid for the property in good faith and without any knowledge of any defects or problems with the seller's title. This means that they have a superior right to the property compared to the seller's creditors, to the extent of the consideration they paid.

For example, if someone buys a car from a seller who has outstanding debts, but the buyer had no knowledge of these debts, they are considered a bona fide purchaser for value. They have a superior right to the car compared to the seller's creditors, to the extent of the money they paid for the car.

Another example is if someone buys a house from a seller who has a pending lawsuit over the property, but the buyer had no knowledge of the lawsuit. The buyer is still considered a bona fide purchaser for value and has a superior right to the property compared to the seller's creditors, to the extent of the money they paid for the house.

bona fide possession | bona fides

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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