Business, Legal & Accounting Glossary
In full: a ‘bona fide purchaser of a legal interest for value without notice, actual, constructive or imputed’, also known as ‘equity’s darling’. A person who pays money or other valuable consideration for property that has any attached equitable interests (see: Equitable interest land and property), takes the property free of those interests if he can show that he had no notice (see: Doctrine of notice) of them. In such a case, the equitable interests are extinguished, and the owners of those interests will be left to pursue an action against whoever granted them (often their trustees). However, some equitable interests in land may be entered on the Land Charges Register. If they are, then they will bind a purchaser with or without notice
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This glossary post was last updated: 4th April, 2020 | 5 Views.