Protection for genuine purchasers: bona fide buyers before notice may avoid confiscation; subsequent transfers are ignored. Section 27(2) protects a genuine purchaser from confiscation where the property was acquired from the Benamidar for adequate consideration before the initiating officer issued notice and without knowledge of the benami transaction, requiring the Adjudicating Authority not to confiscate such property. Section 57 provides that any transfer occurring after issuance of a notice shall be ignored for proceedings under the Act and, if the property is confiscated by the Central Government, such transfer is deemed null and void.