Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

good-faith purchaser

Read a random definition: special grand jury

A quick definition of good-faith purchaser:

A good-faith purchaser is someone who buys something for money or other valuable things without knowing that someone else has a claim to it or any problems with the seller's ownership. They are considered innocent and have a right to the property they bought. It can apply to buying things like property or securities.

A more thorough explanation:

A good-faith purchaser is someone who buys property for money or other valuable consideration without knowledge of any defects or claims against the seller's title. This means that they have no reason to believe that the seller does not have the right to sell the property.

For example, if someone buys a car from a dealership and later finds out that the car was stolen, they are not considered a good-faith purchaser because they should have known that the car was not being sold by the rightful owner. However, if someone buys a house from a seller who has a clear title and later discovers that there was a lien on the property, they are still considered a good-faith purchaser because they had no reason to know about the lien.

Being a good-faith purchaser is important because it gives the purchaser a superior right to the property over any claims by the seller's creditors. This means that if the seller owes money to someone else, the good-faith purchaser is still entitled to keep the property they bought.

good-faith margin | good health

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
17:02
has everyone finished procuring their presents?
17:02
I got my sis a vintage leather jacket off ebay she’s gonna freak she only has fake stuff
hi all
CynicalOops
17:14
Ive been slacking so hard on tickets fawk
CynicalOops
17:14
Wait
CynicalOops
17:14
Presents
CynicalOops
17:14
Im just gonna get everyone tickets so thats why i said that
jackfrost11770
17:14
people are so stupid on the internet its crazy
CynicalOops
17:15
T5 soft
windyMagician
17:18
that and the post asking for low gpa success stories along with every other identifying detail
i should be a vtuber so i can finally realize my dream of becoming an anime girl
17:23
@CynicalOops: tickets to what?
CynicalOops
17:26
I got my brother tickets to a golf tournament and im going to get my mom ski lift tickets because she just moved near a ski resort
Dkk
18:08
Nice, I am on bad terms with my siblings so i am getting them nothing and they should get me nothing too and I am getting my mom a gift.
18:16
I just noticed that UMich has the majority of their acceptances really early on. Does anyone know what happens to mid-November applicants? Are we just cooked?
TGM
18:23
How long can I delay sending my fall grades if they hurt my GPA? I’m still waiting on decisions and ideally I’m hoping they decide BEFORE seeing my new grades
TGM
18:27
dropped my GPA below median for a couple of schools I’m applying to, when I was above median before
Dkk
18:32
@TGM: Not long enough to get another transcript to recover.
Dkk
18:33
Honestly you could just wait until someone actually asks for your fall grades. Who knows.
Dkk
18:34
@wigwav: It looks like if below medians it will not help but If applying in November it seems you are still middle of the cycle.
18:34
@wigwav: nah
TGM
18:34
like am I expected to send it unprompted or can I wait until a school requested it
Dkk
18:35
@TGM: Expected to send it unprompted but you can wait and see.
18:36
Is your LSAT also below median?
TGM
18:37
It’s above median, but I’m applying T6 with unimpressive softs, so even with a good LSAT it’s tough
texaslawhopefully
18:38
Yeah, then I would just wait as long as you can to send it
texaslawhopefully
18:38
For like HLS at least, if you wait till J6 then you may already have a decision
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
LSD+ is ad-free, with DMs, discounts, case briefs & more.