Legal Definitions - purchase, words of

In property law, words of purchase refer to the specific language used in a legal document, such as a deed, will, or trust agreement, that identifies the person or entity designated to receive an interest in property. Crucially, in this context, "purchase" does not necessarily imply a monetary transaction. Instead, it distinguishes someone who acquires property directly (a "purchaser") from someone who inherits it through "descent" (as an heir of a previous owner). These words clearly name the recipient, establishing them as the new holder of the property interest.

• Example 1: A Provision in a Will

  A will states, "I give and devise my vacation home in Aspen, Colorado, to my friend, David Miller."

  In this scenario, "to my friend, David Miller" are the words of purchase. They clearly identify David as the specific individual who is to receive the vacation home, distinguishing his acquisition as a direct grant from the testator rather than through his status as an heir of a prior owner.

• Example 2: A Clause in a Property Deed

  A property deed reads, "The grantor, Sarah Jenkins, hereby conveys and warrants the property located at 456 Elm Street to Horizon Development Corporation."

  The phrase "to Horizon Development Corporation" constitutes the words of purchase. It explicitly names Horizon Development Corporation as the new owner receiving the property interest directly from Sarah Jenkins, establishing their ownership.

• Example 3: A Beneficiary Designation in a Trust Document

  A trust agreement specifies, "The trustee shall distribute the residual assets of the trust upon my death to my alma mater, State University, for the establishment of a scholarship fund."

  Here, "to my alma mater, State University, for the establishment of a scholarship fund" are the words of purchase. They precisely identify State University as the entity designated to receive the beneficial interest (the residual assets) from the trust, outlining the purpose of the acquisition.