The equitable doctrine of bona fide holder for value is very similar to that existing in the case of negotiable instruments, and is to the effect that a person who, in good faith, purchases property for a valuable consideration, without notice of existing equities, takes the property free from such equities. After property has once come into the possession of a bona fide holder for value, it can be transferred to a person who has notice of the previously existing equities, but who has the other requisites of a bona fide holder for value, without re-establishing such equities or rights.