Legal Definitions - first purchaser

First purchaser refers to the person who buys a property or item for the first time. This can include:

• Someone who acquires real estate through purchase, rather than inheritance or gift
• An ancestor who first acquired an estate that still belongs to the family

For example, if John buys a house from a real estate developer, he is the first purchaser of that property. Similarly, if a family has owned a piece of land for generations, the ancestor who originally bought the land would be considered the first purchaser.

It's important to note that the term "first purchaser" can have different meanings in different contexts. For example, in securities law, a first purchaser is someone who buys securities directly from the issuer.

Overall, the term "first purchaser" simply refers to the initial buyer of a property or item.