Answer :
King Charles II granted Penn the territory in exchange for paying a debt to his late father. After Penn's father passed away, the region was given the name Sylvania (Latin for woods), which King Charles II of England changed to Pennsylvania in tribute to the late Penn.
William Penn was owed £16,000 by King Charles II, which money his late father Admiral Sir Penn had loaned him. Penn requested property from the King in the region straddling the provinces of Lord Baltimore's Maryland and the Duke of York's New York in order to provide a safe refuge for persecuted Friends in the New World. To settle debts due by the monarch to Penn's father, the admiral and politician Sir William Penn, King Charles II gave Penn a sizable portion of his land holdings in North America along the coast of the North Atlantic Ocean. The modern states of Pennsylvania and Delaware were part of this territory.
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