Good Faith Purchaser of Property
A good faith purchaser (bona fide purchaser) buys property for value without notice of title defects or competing claims. This doctrine protects innocent buyers and maintains the integrity of Florida's recording system.
Requirements
- Pay fair and adequate consideration (not nominal)
- No actual knowledge of defects or competing claims
- No constructive knowledge from public records
- Act in good faith throughout the transaction
Protections
- Takes title free of prior unrecorded interests
- Defeats equitable claims the buyer had no notice of
- Defense against fraudulent transfer claims (fair value paid)
- Encourages reliance on public records
What Defeats BFP Status
Actual notice, constructive notice (recorded claims), inquiry notice (visible occupancy), inadequate consideration, and buyer's own fraud. Recorded liens and tax liens cannot be cut off.
Related Terms
- Evidence of Title — Title search for BFP status
- Encumbrance — Recorded vs. unrecorded claims
- Closing — BFP status established at closing
Barnes Walker Title Services
Barnes Walker Title protects Florida buyers' good faith purchaser status through comprehensive title searches and title insurance. Submit a title inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC