Innocent Holder for Value Law and Legal Definition
Innocent holder for value is a person who has acquired property from another for value without notice of a third person's equities in or claims to the property.
In order that a payee of trust funds may prevail as an innocent holder for value, in addition to being innocent of its trust character at the time of its receipt, he must have parted with some value, suffered some detriment, or forborne the exercise of some right which he might otherwise have asserted. [Aetna Casualty & Surety Co. v. Local Bldg. & Loan Ass'n, 162 Okla. 141, 146 (Okla. 1933)].
