Who is an innocent purchaser for value?

A person is considered in law as an innocent purchaser for value when he buys the property of another, without notice that some other person has a right or an interest in such property, and pays a full price for the same at the time of such purchase, or before he has notice of the claims or interest of some other person in the property. A person dealing with registered land may safely rely on the correctness of the certificate of title of the vendor/transferor, and the law will in no way oblige him to go beyond the certificate to determine the condition of the property. (Spouses Chu, Sr. v. Benelda Estate Development Corporation, 405 Phil. 936, 2001)