For real property purchase agreements, when the home, land, or business has transferred successfully from grantor to grantee, which of these has occurred?

When a real property purchase agreement reaches the point where the home, land, or business has successfully transferred from the grantor (the seller) to the grantee (the buyer), it signifies that the purpose of the contract has been completed. This completion involves fulfilling all obligations outlined within the purchase agreement, resulting in a transfer of ownership.

In this context, the term "completion of purpose" accurately reflects that the primary goal of the agreement—transferring property ownership—has been achieved. This transition means that the agreement has successfully served its intended function in the real estate transaction.

The other options do not accurately depict the scenario where a property has successfully changed hands. For instance, "default" refers to a failure to fulfill the terms of the contract, which would not apply here. Saying that the "contract has been voided" suggests that the agreement is no longer enforceable, which is not the case when the transfer has occurred. Lastly, a "contract is executory" indicates that the contract is still in progress and that there are outstanding obligations to be fulfilled; this is also not relevant when ownership has already transferred.