What's in a Name

So, what is the meaning of the name of this blog. Unless someone is a lawyer there is a very good chance they have no idea what a bonafide purchaser, or BFP is. The title of this blog is a term used in the law of real property and personal property in reference to an innocent party who purchases property absent notice of any competing party's claim to the title of that property. A bonafide purchaser is more thoroughly described as a bona fide purchaser for value without notice. 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 in circumstances in which a party fraudulently conveys property to a BFP (for example, by selling property to the BFP that has already been conveyed to a third party), that BFP will often, depending on the laws of the relevant jurisdiction, take good title to the property despite the competing claims of the other party, providing the BFP properly records the transaction pursuant to local property law. However, parties with claim to ownership in the property will retain a cause of action (a right to sue) against the party who made the fraudulent conveyance. So, there it goes. We also just liked the ring of it.