BFP - Bona Fide Purchaser
The definition of mortgage term: Bona Fide Purchaser
A legal term used to refer to a innocent party who purchases property without knowledge of any other party's claim to the title of that property. If problems arise, the BFP will keep the property and the third party must look to the fraudulent seller for compensation.
Go back to the Mortgage Terms page to learn more!
No Similar Terms