How did William Penn come in possession of land in the New World?

I'm pretty sure that he bought it

New religious sects were on the rise in Europe. In England, William Penn attended Oxford where he joined the Society of Friends (Quakers). These new sects were treated badly, and the Quakers received the worst treatment of all. They were thrown in prison for refusing to obey any law that disrupted their religion and they refused to pay to support the state religion. The only way to escape such treatment was to go to America. William Penn's father was an Admiral and King Charles II had owed him a sum of money. Admiral Penn was dead so William Penn asked King Charles II give him a tract of land in payment of the debt. King Charles II granted him much of present-day Pennsylvania, Delaware and New Jersey.