Final answer:
An acquisition is when one firm purchases another and may keep the acquired firm's name, different from a merger where two similar-sized firms combine. Both lead to common ownership but a takeover may imply hostility and liquidation involves dissolving assets.
Step-by-step explanation:
When addressing the question of what it's called when one company's purchase of the property and obligations of another, the answer would be an acquisition. An acquisition occurs when one firm buys another firm and may continue to operate it under its previous name.
It differs from a merger, where two firms of similar size combine to form a new entity. However, both mergers and acquisitions result in formerly separate firms coming under common ownership and are often grouped together in business terminology.
Unlike acquisitions or mergers, a takeover can sometimes carry the connotation of a hostile acquisition, and liquidation refers to a company dissolving its assets, which is not relevant to the process of one company buying another.