bona fide (not comparable) 1  In good faith. 2  Genuine; not counterfeit.
What is a 'Debtor in Possession (DIP)' A debtor in possession (DIP) is a person or corporation who has filed for bankruptcy protection but still holds property that a creditor has a right to.  It is part of U.S. bankruptcy law and is the term used to describe a corporation that continues to do business while under Chapter 11 bankruptcy proceedings.
Adverse Possession refers to the legal process of obtaining property ownership through recognition of long-standing occupation and use. Often, adverse possession is used to âclearâ a land title against a competing claim of ownership. The laws governing adverse possession are found at Sections 78B-2-208 to -219 of the Utah Code. âAdverseâ usually means contrary to another personâs claim or interest in the property. If one person can claim title to land, but does not use or occupy it, another person may establish an ownership claim by actually using or occupying it, and paying taxes.