Purchase

In the broadest sense, the transmission of property from one person to another by their voluntary agreement on a valuable consideration.

4 Kent, Comm. 509.

In a stricter sense, a term including every mode of acquisition of estate known to the law, except that by which an heir on the death of his ancestor becomes substituted in his place as owner by operation of law.

2 Washb. Real Prop. 401.

There are six ways of acquiring" a title by purchase, namely: By deed; by devise; by execution; by prescription; by possession or occupancy; by escheat. In its more limited sense, "purchase" is applied only to such acquisitions of lands as are obtained by way of bargain and sale for money or some other valuable consideration. Cruise, Dig. tit.

30, §§ 1-4; 1 Dall. (Pa.) 20.

In common parlance, purchase signifies the buying of real estate and of goods and chattels.