The interest that a buyer acquires when a seller accepts the terms and conditions of a purchase agreement is called:

Statutory title does not accurately reflect the interest acquired by a buyer in a purchase agreement. Instead, it refers to a form of ownership defined by statute, often involving specific legal rights and obligations. It is not a term typically used in the context of buyer-seller agreements.

A non-freehold estate pertains to a type of property interest that does not include ownership rights in perpetuity, such as leaseholds. This term is irrelevant to the context of a purchase agreement, where the buyer is acquiring an interest that will eventually lead to full ownership, distinguishing it from non-freehold arrangements.

A freehold estate refers to an ownership interest in real property that is indefinite in duration, such as fee simple or life estate. While it represents a form of ownership, it does not apply to the buyer's interest during the process of a purchase agreement, where equitable title is relevant before the transfer of legal title.