MrThickRopes
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LSDefine
Simple English definitions for legal terms
bona fide possession
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A quick definition of bona fide possession:
Bona fide possession means having control over something and using it as if it belongs to you, without knowing that someone else might claim ownership. It can refer to physical objects like a toy or a house, or to intangible things like a right to use someone else's land. Possession can be actual, where you physically have the thing, or constructive, where you don't physically have it but you have control over it. Possession can also be peaceful or hostile, depending on whether someone else is trying to take it away from you.A more thorough explanation:
Bona fide possession means having or holding property in one's power and exercising control over it. It is the right to use and benefit from a material object exclusively. It is the detention or use of a physical thing with the intent to hold it as one's own. Bona fide possession is possession of property by a person who in good faith does not know that the property's ownership is disputed.
For example, if someone buys a car from a dealer in good faith, not knowing that the car was stolen, they have bona fide possession of the car. They have the right to use and benefit from the car exclusively until they find out that the car was stolen.
Bona fide possession is different from adverse possession, which is the possession of property that belongs to someone else, without their permission, for a certain period of time. Adverse possession can lead to ownership of the property, while bona fide possession does not.
bona fide perceptio et consumptio | bona fide purchaser for value