Bona Fide

• Author: Jeffrey Lehman, Shirelle Phelps

Page 74

[Latin, In good faith.] Honest; genuine; actual; authentic; acting without the intention of defrauding.

A bona fide purchaser is one who purchases property for a valuable consideration that is inducement for entering into a contract and without suspicion of being defrauded or deceived by the seller. He or she has no notice of any defects of the title. A bona fide purchaser pays in GOOD FAITH full value for the property and, without any FRAUD, goes into possession.

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