§ 8302 Purchaser Rights Acquisition

Commercial Code·California

AI SummaryVerified

Key Takeaways

•If you buy a stock or bond, you get the same rights as the person who sold it to you.
•If you only buy part of a stock or bond, you only get the rights for that part.
•If you knew someone else had a claim on the stock before, buying it again won’t fix that problem.

Example

You buy a stock from your friend, but later find out someone else says they own it too.

If your friend really owned the stock, you get all the rights to it. But if you already knew someone else was claiming it, buying it again won’t make that claim go away.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 8302 Purchaser Rights Acquisition

(a) Except as otherwise provided in subdivisions (b) and (c), a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer. (b) A purchaser of a limited interest acquires rights only to the extent of the interest purchased. (c) A purchaser of a certificated security who as a previous holder had notice of an adverse claim does not improve its position by taking from a protected purchaser. (Amended by Stats. 1999, Ch. 991, Sec. 33.4. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991.)

Last verified: January 23, 2026

Key Terms

certificated security uncertificated security limited interest adverse claim protected purchaser

References

Official text at leginfo.legislature.ca.gov
California Legislature. Commercial Code. Section 8302.

§ 8302 Purchaser Rights Acquisition

Commercial Code·California

AI SummaryVerified

§ 8302 Purchaser Rights Acquisition

Key Takeaways

•If you buy a stock or bond, you get the same rights as the person who sold it to you.
•If you only buy part of a stock or bond, you only get the rights for that part.
•If you knew someone else had a claim on the stock before, buying it again won’t fix that problem.

Example

You buy a stock from your friend, but later find out someone else says they own it too.

If your friend really owned the stock, you get all the rights to it. But if you already knew someone else was claiming it, buying it again won’t make that claim go away.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 8302 Purchaser Rights Acquisition

Last verified: January 23, 2026

Key Terms

certificated security uncertificated security limited interest adverse claim protected purchaser

References

Official text at leginfo.legislature.ca.gov
California Legislature. Commercial Code. Section 8302.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References