Real Estate Terms Glossary
What is a Bona Fide?
Bona fide can be an act or statement that revolves around honesty and without deceit. If the source of an act or statement is bona fide, it can lead to decreased or removal of liability altogether. Technically, bona fide refers to a legal term that highlights oversight or unintentional mistake that requires prompt correction to avoid legal and financial issues.
Bona Fide Examples
Examples of Bona fide include:
- Example 1: Bona fide offer
- Example 2: Bona fide purchase
- Example 3: Bona fide error
- Example 4: bona fide securities
Here is a great article about bona fide.
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