Which of the following is true about bona fide purchasers (BFP)?

A bona fide purchaser (BFP) is someone who buys property in good faith, without notice of any competing claims or interests, and typically for value. The statement regarding a BFP being able to "shelter under the rights of a previous true BFP" is accurate. This principle, often referred to as "shelter doctrine," allows a BFP who acquires property to inherit the protection from prior BFPs, regardless of whether they established their rights or had any prior notice of other claims.

In essence, if a previous BFP had acquired interest in the property without notice of any claims, the new BFP can claim the same protections, thereby ensuring security in property transactions. This reinforces the legal system’s intention to protect individuals who engage in real estate transactions without any knowledge of any issues related to the title that could impede ownership rights.

The other statements involve certain requirements or conditions that do not accurately characterize the rights of a BFP. Specifically, a BFP does need to provide consideration (though not necessarily fair market value), and BFP status typically does not confer absolute immunity if they have actual notice of prior claims. The requirement of fair market value is also not a strict prerequisite for protection, although it can