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Simple English definitions for legal terms
purchaser
Read a random definition: Spendthrift Trust
A quick definition of purchaser:
A purchaser is someone who buys something, usually property, in exchange for money or other valuable consideration. They can be affiliated with others involved in the acquisition or distribution of securities. A bona fide purchaser is someone who buys something for value without knowing about any other claims to the property. A purchaser for value is someone who pays consideration for the property they buy.
A more thorough explanation:
Definition: A purchaser is someone who buys or obtains property in exchange for money or other valuable consideration.
Examples:
- John is a purchaser who bought a car from a dealership for $20,000.
- Samantha is a purchaser who obtained a house by paying the seller $500,000.
These examples illustrate the definition of a purchaser as someone who acquires property by paying for it with money or other valuable consideration.
Other related terms include:
- Bona fide purchaser: Someone who buys something for value without notice of another's claim to the property and without actual or constructive notice of any defects in or infirmities, claims, or equities against the seller's title.
- Innocent purchaser: Another term for a bona fide purchaser.
- Purchaser for value: A purchaser who pays consideration for the property bought.