Which statement correctly describes a Bona Fide Purchase (BFP) for recording purposes?

• A. Requires purchase for value and without notice
• B. Requires purchase for value and actual notice
• C. Requires purchase for value and notice of unrecorded transaction
• D. Requires purchase for value only

Answer: (A)

A bona fide purchaser for recording purposes must both pay value for the property and take without notice of any prior, unrecorded interests. Paying value means the buyer provides consideration, not a gift. Taking without notice means the buyer has no actual knowledge of the prior claim and no notice that would undermine the purchase (and often no constructive or inquiry notice). This combination allows the BFP to take free of unrecorded interests, though it still must contend with interests that are already recorded. If the buyer has actual knowledge of a prior claim or if the purchase was made with notice of the unrecorded transaction, the BFP protection does not apply.