Avulsion refers to water quickly submerging land or moving land to another location. In most situations under state property law, land moved by avulsion continues to be the property of the owner of where the land originally was located. For example, a major hurricane may cause chunks of land to be dislodged from a person’s land beside a river, and in this case, the person would continue to own the dislodged land. The key aspect of avulsion is its rapid change.
A 'bailment' is defined as a non-ownership transfer of possession. Under English common law, the right to possess a thing is separate and distinct from owning the thing.
Bankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt.
BFP is the abbreviation for Bona Fide Purchaser.
[Last reviewed in March of 2022 by the Wex Definitions Team]
Bill quia timet is derived from the Latin phrase “quia timet,” meaning “because he fears.” A bill quia timet grants a party equitable relief from the court for probable harm to their specific
Blackacre refers to a fictional plot of land which is often used in examples when teaching or explaining property law concepts. In examples where more than one plot of land is necessary, Blackacre is often paired with fellow fictional plot of land Whiteacre.
[Last reviewed in June of 2022 by the Wex Definitions Team]
A bona fide purchaser is someone who exchanges value for property without any reason to suspect irregularities in the transaction.
