Final answer:
A Purchase agreement is used to transfer real estate interests from one party to another, which includes terms of the sale and requires property ownership to enter.
Step-by-step explanation:
To transfer real estate interests from one party to another, the appropriate contract would be a B) Purchase agreement. This type of agreement outlines the terms and conditions of the sale, including the price, closing date, and any contingencies that must be met before the sale can be finalized. A lease agreement is for renting property, a service contract is for providing services, and an employment contract is for hiring employees.
Contractual rights allow individuals or firms to enter into agreements with others regarding the use of their property, providing legal recourse in the event of disputes or breaches. To enter into a purchase agreement, one must own the property or have the authority to sell it. This ensures a legal transition of property rights from the seller to the buyer.