purchaser in good faith

Definitions (2)
Popular Terms
1. Entity that purchases something for value without notice of another's claim on it, or of any defects in the seller's title, and pays valuable consideration in exchange.
2. Party that buys a property for its own use, and is not representing the interests of a third (known or unknown) party. Also called bona fide buyer or bona fide purchaser.


Email Print Embed