Legal Definitions - innocent purchaser for value

An innocent purchaser for value is someone who buys property for money or other valuable consideration without knowledge of any defects or claims against the seller's title. This person has paid for the property in good faith and without notice of any prior adverse claims. They are also known as a bona fide purchaser for value or a good-faith purchaser.

For example, if John sells a car to Jane without disclosing that the car was stolen, and Jane had no reason to suspect that the car was stolen, she would be considered an innocent purchaser for value. She paid for the car in good faith and without knowledge of any defects in the seller's title.

Another example would be if a person buys a house from someone who claims to be the rightful owner, but it turns out that the seller was not the owner and had no right to sell the property. If the buyer had no knowledge of this fact and paid for the property in good faith, they would be considered an innocent purchaser for value.