Under North Dakota law and standard real estate practice, which of the following is NOT a required element for a valid real estate purchase agreement to be enforceable?
Correct Answer
D) Notarization of the signatures of both buyer and seller
Notarization of signatures is NOT required for a purchase agreement to be valid and enforceable in North Dakota. Notarization is required for deeds and certain other instruments to be eligible for recording under NDCC Chapter 47-19, but a purchase agreement (executory contract) does not require notarization to be binding between the parties. The essential elements of an enforceable real estate contract in North Dakota are: competent parties, mutual assent (offer and acceptance), consideration, lawful purpose, and a written and signed agreement with an adequate property description and price.
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