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Bona Fide Purchaser
A Bona Fide Purchaser is someone who buys property in good faith, without notice of any other party's claim to the property or any defects in the title.
Right to Redeem
The legal right allowing a debtor to reclaim ownership of property by paying off a loan or other obligation, usually within a specific period of time after a foreclosure sale.
Secured Party
An individual or organization that holds an interest in a security agreement on property offered as collateral, ensuring payment or performance of some obligation.
Disposition
In legal and financial contexts, it refers to the act of disposing of an asset through sale, assignment, lease, or other transfer method.
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