Bona Fide Purchaser Legal Meaning and Definition
Here is a simplified definition of the legal term Bona Fide Purchaser.
Bona Fide Purchaser (noun)
A Bona Fide Purchaser refers to an individual who buys an item, property, or goods without any indication or awareness of possible fraud or deception associated with the transaction. This person bought the item in good faith, meaning they trusted that the sale was legal and straightforward. In a case where the goods or property they bought are found to be fraudulently obtained, a Bona Fide Purchaser is generally not liable for damages to the original owner.