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BFPs are sometimes called « the darling of equity. » However, lawyer Hackney explains that the representation is inaccurate; In cases where legal ownership is passed on to a bona fide buyer for value without notice, it is not so much that equity has great affection for the buyer – it is simply the case that equity refuses to intervene to preserve the rights of the former beneficial owner of the property. [2] The relationship between the courts of equity and the FPB is fundamentally characterized as being oriented towards the FPB, with benign negligence on the part of the former owner(s). [2] However, fairness allows a proven BFP to require a full legal transfer from the former owner of the right, otherwise the court itself will transfer the title. A bona fide buyer for value without notice (BFPFVWN) is a bona fide buyer who has paid a declared price for a property without knowledge of previous existing claims or participations. For simplicity, the term can be broken down as « Käufer in good faith. » Merriam-Webster.com Legal Dictionary, Merriam-Webster, www.merriam-webster.com/legal/bona%20fide%20purchaser. Retrieved 6 January 2022. A buyer who initiates a sale through fraudulent representations acquires a QUESTIONABLE title of the seller. A questionable title is a title that may be released by the Seller upon discovery of the Buyer`s FRAUD at its discretion. The seller has the authority to transfer good security to a bona fide buyer without notifying the current EQUITY. The rule of contestability only applies in situations where, due to fraud or deception, the owner is incentivized to part with the property, not just the property. A bona fide purchaser (PFB) – more fully referred to as a bona fide purchaser for value without notice – is a term used primarily in common law jurisdictions in real estate and personal property law to refer to an innocent party who acquires property without noticing another party`s claim to title to that property. A BFP must buy for value, which means that he or she must pay for the property, rather than simply being the recipient of a gift.

Even if a party fraudulently transfers ownership to a BFP (e.B. by the sale to the property BFP that has already been transferred to someone else), this BFP, according to the laws of the respective jurisdiction, will take the good (valid) ownership of the property despite the competing claims of the other party. As such, an owner who publicly registers his own interests (that certain types of immovable property must be registered in a court-recognized registry) protects himself against their loss to an indirect buyer, para. B example a qualified buyer of a thief qualified as a BFP. In addition, the so-called « race notice » jurisdictions require the FPB itself to register (depending on the type of property through a public notice or an application for registration) in order to assert its rights. In all cases, parties with a claim to ownership of the property retain a cause of action (a right of action) against the party who made the fraudulent transfer. Bona fide buyer for value refers to a person who acquires title deed without actual or constructive knowledge of the infirmities, claims or actions against the title. In general, such a buyer is not affected by the transferor`s fraud against a third party. A bona fide buyer for value also has a higher right in the transferred asset vis-à-vis the assignor`s creditor to the extent of the consideration paid by the assignor (buyer). A bona fide buyer for value is also called an innocent buyer for value.

In Chagnon Lumber Co.c. Stone Mill Constr. Corp., 124 N.H. 820 (N.H. 1984), it was held that a court order or other instrument concerning the ownership of an interest in real property is not enforceable against bona fide buyers until it is recorded in detail in the corresponding register of deeds. Home » Dictionary » Bona fide buyer for value without notice (BFPFVWN) Note: There are special requirements for a bona fide buyer of a warranty under Article 8-302 of the Uniform Commercial Code. Under this Section, a bona fide purchaser is one who, in good faith and without notice of adverse claims, acquires a security and accepts a certified security either as security to the bearer or as a registered security issued to him or with a blank olive note or note or on which the transfer of an uncertified security is recorded in the books of the issuer. or as otherwise provided for in article 8-313. A bona fide buyer is a person who has purchased a property for value without noticing defects in the seller`s title. If a seller notifies a buyer that it has ownership or the power to sell a particular item, the seller is prevented (prevented) from refusing such assurances if the buyer resells the property to a bona fide buyer for value without realizing the owner`s true rights.

Under ordinary law, such an ESTOPPEL does not apply where an owner brings goods to a reseller of that type of goods for services or repairs and the trader wrongly sells the movable property. However, the bona fide buyer is protected in such circumstances by the UNIFORM COMMERCIAL CODE (UCC). The BFPFVWN rule was applied in Australia under the old ownership system to remove existing title claims in order to favour the innocent and bona fide buyer. However, with the introduction of the Torrens system, registration in the Torrens Register is the only way to ensure ownership of the property. Indeed, even if a bona fide buyer exists for value, it is generally assumed that he will be informed of all interests registered in the registry, since registration puts buyers in default. .