Sometimes I'm too brave (Grin), but I'm going to take a stab at this, Wayne. Acquired land (usually federal land acquired through purchase, because of condemnation, or as gifts, which is under the jurisdiction of the public land laws) could be entered in several ways. Yes, you could create your own event (I'm not sure how it might come across if ever sharing a gedcom, however). I would think that the Deed entry or Land Contract options might work best for you, unless you just want to enter all of this in the text area of the Individual Record. With the Ded or Land Contract (one of which--if not both) had to be made, you could enter the date and text of the contractural agreement. If there was a "homestead claim" that followed, you could use that option, too, I suppose.