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Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately

Bona Fide

Synonyms:genuine, honest, lawful, sincere, true, without deception
Filed Under: legal-contracts, real-estate
Tags: contract, legal, realty

Definition of bona fide

bona fide
1. Characterized by good faith and lack of fraud or deceit. In real estate, a bona fide purchaser or seller has the legal right to give or receive title.

Related Terms and Acronyms:

  • contract   An agreement between two or more parties that can be enforced by law.
  • non-disclosure agreement (NDA)   A contract that disallows one or more parties from disclosing information covered by the contract.
  • statute of frauds (SOF)   A law which provides that certain contracts must be in writing to be enforceable at law. This includes real estate contracts.
  • title   Evidence of a person's right to possession ownership of a property.

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