BFPs 
Friday, January 3, 2014, 01:17 AM
Posted by Administrator
New Years in South Texas meant seeing a TV commercial where television Judge Mathis endorses local attorney Brian Locar (whose chosen nickname is, I think "The Fist"), in the tackiest lawyer ad I've ever seen (and, I say that with all due respect to our local tacky lawyer ads). New Years also meant looking at Craigslist (for the other business) where I found someone in Plantation looking to sell the bicycle that was stolen from me the day after Christmas, 2012. The bike was at the dock at the end of Fern St. Someone cut the cable lock.

The general rule is that if you buy stolen property for fair market value (or near to it) and don't have reason to know the property is stolen then you are the owner, free from any claim of the person it was stolen from. This seems harsh and unfair but, I guess, it promotes commerce....you always get good title to personal property as long as you don't know that it's stolen; a reasonable person wouldn't know that it was stolen; and you paid fair market value. You are a BONA FIDE PURCHASER FOR VALUE (a BFP) and that's that.

Cars have titles and, if you don't bother to look at the title and get the title signed over to you, you aren't the owner of the car...no matter how much you paid. Leases are sometimes registered and if you buy something that has a recorded lease (and belongs to the lessor), you'll never own that. Things bought from a known thief; in an alley in the middle o the night; from the trunk of a car.....are so likely to have been stolen that you'll never be a BFP. Buy stolen jewelry at a pawn shop, though, it's yours.

I posted my own ad on Craigslist....trying to tell whoever is looking that it's my bike. So, if the seller isn't a BFP anyone who should have seen my ad can't be one either.

Really, I'll never get the bike back. And the police won't care that I've got information to supplement the original theft report.

The law and THE LAW isn't against me.... but neither is going to help me much.
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