innocent purchaser

innocent purchaser definition - business

innocent purchaser

An individual who buys real property without knowledge of a title flaw. For example, someone who purchases a television for $350 from an appliance store cannot be charged if it is later shown the television had previously been stolen.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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