Who is referred to as a purchaser in real estate?

In real estate, the term "purchaser" specifically refers to a person acquiring an interest in land. This interest can take different forms, such as buying a property outright through a sale or obtaining another type of interest, like a leasehold interest. When someone is labeled as a purchaser, it signifies that they are involved in a transaction where they are looking to gain ownership or some form of legal claim to a property or land. Understanding this term is crucial because it lays the foundation for the roles and responsibilities of individuals in real estate transactions, emphasizing the significance of the acquisition aspect in property dealings.

While individuals who rent a property or manage it play important roles in real estate, they do not fall under the definition of a purchaser since their interests are limited to tenancy or management rather than ownership. Similarly, a seller is the opposite of a purchaser, as they are the party transferring ownership rather than acquiring it.