Innocent Purchaser definition

Innocent Purchaser means a property owner who purchased real property and who, at the time of purchase, had no knowledge that the real property was divided in violation of Pierce County Subdivision or Platting Regulations or that the real property contained unpermitted development. The burden of proof of innocence is on the property owner. Evidence that can be used to demonstrate innocence includes, but is not limited to, aerial photography, property tax records, real estate deeds, and real property transfer disclosure statements. [emphasis added]
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Innocent Purchaser has the meaning set forth in Section 11.10(c).
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Innocent Purchaser means a person who qualifies for the exemption from liability set forth in section 107(b)(3) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. § 9607(b)(3).
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Examples of Innocent Purchaser in a sentence

  • Innocent purchaser status shall not be granted to any individual or group more than once.

  • To lose innocent purchaser status, notice to the purchaser must be notice relating specifically to the claimed senior title.758 Innocent purchaser status is not lost because of notice generally of an unrelated title defect.759 Even if the notice directs the purchaser to the senior claimant, the notice must excite inquiry to the specific title claim made by that claimant.

  • MOTION BY MALIK/NETTERSTROMI MOVE TO APPROVE THE AGENDA AS AMENDED.

  • Innocent purchaser protections for private parties The state should create a self-administering liability exemption for innocent purchasers, which requires a BEA as the primary criterion for gaining the protections.

  • The prejudice on the fifth respondent is huge as the fifth respondent is an Innocent purchaser, who bought the property at an auction.

  • Innocent purchaser for value is an equitable remedy that cannot override the provisions of the Law.


More Definitions of Innocent Purchaser

Innocent Purchaser means an individual who has found by the City’s Hearing Examiner to have purchased real property for value and is also found to have had no knowledge of or complicity in the creation of a lot in violation of the provisions of this title. A purchaser applying for “innocent purchaser” status must provide the City with a statement, under oath, that he or she had no knowledge at any time prior to or during the sale that the lot had been or is being created in violation of the provisions of this title. (Ord. 53-02 § 2 (19A.04.190))
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Innocent Purchaser status for the Buyer.
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Innocent Purchaser means an individual who has purchased real property for value, has not received actual notice that the lot has not been legally created as a separate lot, and has not previously been granted innocent purchaser status by the City. (Ord. O2010-284 § 2 (Att. A))
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Related to Innocent Purchaser

  • First purchaser means the first buyer of a manufactured item that contains ferrous or nonferrous metal in a retail or business-to-business transaction. A person that purchases scrap metal, or other property described in section 10, in violation of this act, or an automotive recycler, pawnshop, scrap metal recycler, or scrap processor is not considered a first purchaser.

  • Selling Shareholder has the meaning set forth in Section 3.04(a).

  • retail investor means a person who is one (or more) of the following:

  • Initial Purchaser As defined in the preamble hereto.

  • Purchaser means the organization purchasing the goods.

  • The Purchaser means the organization purchasing the Goods, as named in SCC.

  • Purchasers is defined in Section 12.3.1.

  • Selling Party has the meaning set forth in the definition of “Net Sales.”

  • Investor is defined in the preamble to this Agreement.

  • Qualified Institutional Buyers as defined in Rule 144A. It is aware that the sale of the Privately Offered Certificates is being made in reliance on its continued compliance with Rule 144A. It is aware that the transferor may rely on the exemption from the provisions of Section 5 of the Act provided by Rule 144A. The undersigned understands that the Privately Offered Certificates may be resold, pledged or transferred only to (i) a person reasonably believed to be a Qualified Institutional Buyer that purchases for its own account or for the account of a Qualified Institutional Buyer to whom notice is given that the resale, pledge or transfer is being made in reliance in Rule 144A, or (ii) an institutional "accredited investor," as such term is defined under Rule 501 of the Act in a transaction that otherwise does not constitute a public offering. The undersigned agrees that if at some future time it wishes to dispose of or exchange any of the Privately Offered Certificates, it will not transfer or exchange any of the Privately Offered Certificates to a Qualified Institutional Buyer without first obtaining a Rule 144A and Related Matters Certificate in the form hereof from the transferee and delivering such certificate to the addressees hereof. Prior to making any transfer of Privately Offered Certificates, if the proposed Transferee is an institutional "accredited investor," the transferor shall obtain from the transferee and deliver to the addressees hereof an Investment Letter in the form attached to the Pooling and Servicing Agreement, dated as of _______1, 200_, among Structured Asset Mortgage Investments II Inc., [NAME OF MASTER SERVICER], [NAME OF MORTGAGE LOAN SELLER] and [NAME OF TRUSTEE], as Trustee, pursuant to Certificates were issued. The undersigned certifies that it either: (i) is not acquiring the Privately Offered Certificate directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, or section 4975 of the Internal Revenue Code of 1986, as amended, or (ii) is providing a representation or an opinion of counsel to the effect that the proposed transfer and holding of a Privately Offered Certificate and the servicing, management and operation of the Trust and its assets: (I) will not result in any prohibited transaction which is not covered under a prohibited transaction exemption, including, but not limited to, Prohibited Transaction Exemption ("PTE") 84-14, PTE 91-38, PTE 90- 1, PTE 95-60, PTE 96-23 and (II) will not give risx xx xxx xxxxxxxxxx xxxxxxxxx xxxxxx xx xxe part of the Depositor, the Master Servicer, the Securities Administrator or the Trustee or (iii) has attached hereto the opinion specified in Section 5.07 of the Agreement. If the Purchaser proposes that its Certificates be registered in the name of a nominee on its behalf, the Purchaser has identified such nominee below, and has caused such nominee to complete the Nominee Acknowledgment at the end of this letter. Name of Nominee (if any):

  • Eligible Purchaser means a corporation, partnership or other entity which we have reasonable grounds to believe and do believe can make representations with respect to itself to substantially the same effect as the representations set forth herein.

  • Dynamic Purchasing System means a completely electronic process for making commonly used purchases of items generally available on the market;