Tuesday, October 16, 2007

Becoming A Good Faith Purchaser

California law goes out of its way at times to protect a good faith buyer of real estate. I'm not referring to someone who buys property really intending to pay a fair price, but someone who is buying the property without knowledge that someone else has an interest in the property. The buyer who does his or her homework, and is reasonably comfortable with the status of the property after a fair amount of research, will be considered a good faith purchaser. This means that he or she has good title regardless of someone else's claim to the property. Of course, the buyer has to pay a fair price for the property, too.

Oh, yes, there is one small exception to the protection afforded good faith purchasers. Isn't that the way it is with the law??!!

I'll get to that in a later post.

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