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.
Clarification. A real estate transaction conveys ownership from a grantor, or seller, to a grantee, or buyer. Transactions involving trust deeds involve three parties: the lender, the borrower and a trustee. Title is held in a trust with the lender as beneficiary. A trust deed gives the lender, known as the grantee, ownership rights to the property in the event the borrower fails to abide by the payment agreement, or promissory note. As grantor, the borrower gives the grantee that right by way of the recorded deed.