To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

4,5
Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.
.
Leo
Newton
Brights
Milds

Bona fide purchaser

From Wikipedia, the free encyclopedia

A bona fide purchaser (BFP) – referred to more completely as a bona fide purchaser for value without notice – is a term used predominantly in common law jurisdictions in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property. A BFP must purchase for value, meaning that he or she must pay for the property rather than simply be the beneficiary of a gift. Even when a party fraudulently conveys property to a BFP (for example, by selling to the BFP property that has already been conveyed to someone else), that BFP will, depending on the laws of the relevant jurisdiction, take good (valid) title to the property despite the competing claims of the other party. As such, an owner publicly recording their own interests (which in some types of property must be on a court-recognised Register) protects himself or herself from losing those to an indirect buyer, such as a qualifying buyer from a thief, who qualifies as a BFP. Moreover, so-called "race-notice" jurisdictions require the BFP himself or herself to record (depending on the type of property by public notice or applying for registration) to enforce their rights. In any case, parties with a claim to ownership in the property will retain a cause of action (a right to sue) against the party who made the fraudulent conveyance.

In England and Wales and in other jurisdictions following the 20th century oft-repeated precedent, the BFP will not be bound by equitable interests of which he/she does not have actual, constructive, or imputed notice, as long as he/she has made "such inspections as ought reasonably to have been made".[1]

BFPs are also sometimes referred to as "equity's darling". However, jurist Hackney explains the portrayal is inaccurate; in cases where legal title is passed to a bona fide purchaser for value without notice, it is not so much that equity has any great affection for the purchaser – it is simply that equity refuses to intervene to preserve any rights held by the former beneficial owner of the property.[2] The relationship between the courts of equity and the BFP is at root characterised as, geared toward the BFP, with benign neglect of the old owner(s).[2] However, equity allows a proven BFP to claim for a full legal conveyance from former legal owner, failing which the court itself will convey title.

In the United States, the patent law codifies the bona fide purchaser rule, 35 U.S.C. § 261. Unlike the common law, the statute cuts off both equitable and legal claims to the title.[3]

See also

Footnotes

  1. ^ Kingsnorth Finance Trust Co Ltd v Tizard [1986] 1 WLR 783
  2. ^ a b Hackney, Jeffrey (1987). Understanding Equity and Trusts. Fontana Press. ISBN 0-00-686072-9.
  3. ^ Filmtec Corp. v. Allied-Signal Inc., 939 F.2d 1568, 1573 (Fed. Cir. 1991)
This page was last edited on 4 August 2021, at 03:15
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.