(B) PURCHASE FOR VALUE
The defendant will only be able to rely on the defence if he or she provided value for the transfer of title to the property in which the claimant claims a proprietary interest. Value includes the giving of money or money’s worth, including the discharge of a debt,[1] or, in Equity, marriage consideration.[2] It is not necessary for the courts to consider whether the value which was given for the property was adequate; it is sufficient that some value was given. This value requirement means that the defence cannot be relied on by the recipient of a gift, simply because such a recipient will not have provided any value for the transfer. The value which is provided by the defendant may be provided before or after the property was transferred to him or her, so long as when the property was transferred to the defendant or the value was provided by the defendant, whichever was the later, he or she was not fixed with notice of the claimant’s proprietary interest.[3] The defendant cannot be considered to have provided value for the property if it was transferred pursuant to an illegal transaction.[4]
