Which term describes the contractual right of the purchaser to obtain property once conditions are met?

The term that describes the contractual right of the purchaser to obtain property once conditions are met is "equitable title." When a purchaser has equitable title, it means they have a right to obtain legal title in the future, provided that they fulfill certain conditions specified in the contract. This concept is foundational in real estate transactions, as it establishes that the buyer has an interest in the property even if the legal title has not yet been transferred.

In contrast, the other terms refer to different legal concepts. An equitable claim generally pertains to a demand based on fairness in a situation that may not necessarily involve property rights. Possessory title indicates actual possession of the property but does not convey the underlying rights that would allow for full ownership. A legal claim typically refers to a right guaranteed by law to seek a remedy or enforce an obligation but may not pertain specifically to the rights associated with equitable interest in property. Therefore, "equitable title" correctly captures the essence of the purchaser's rights under a contract that includes conditions for property transfer.