Bona Fide Purchaser

A Bona Fide Purchaser (BFP) is someone who buys property or goods in good faith, without knowledge of any legal claims or defects on that property. This means the buyer believes they are purchasing something that is rightfully owned by the seller and pays a fair price for it. If a dispute arises over who really owns the item, a BFP may have legal protection because they acted honestly and without deceit in their transaction. Essentially, it’s about being an innocent buyer, unaware of any issues that could affect ownership.