Bismuth and lead oxide based ternary perovskites have been studied extensively in the past decade as potential electronic materials for high temperature application. Most of these materials however exhibit diffuse phase transition and relaxor like behavior at very high temperature, where the Burns temperature (Td ) goes well above 500 oC. In this report, a review of various such solid solutions have been presented while exploring one such system in detail in which multiple phase transitions have been observed. Possibility of segregation in this system has been explored by presenting X-ray diffraction analysis combining with the TEM and dielectric measurements. Quenched defect states leading to classical ferroelectric switching have also been observed for these complex oxides. The presence of defects possibly combined with segregated phases lead to phase instabilities and relaxor-like behavior in these systems.