In Michigan, the Statute of Frauds requires real estate contracts to be:
Question & Answer
Review the question and all answer choices
Verbal agreements are sufficient
Verbal agreements are insufficient for real estate contracts in Michigan. The Statute of Frauds was established precisely to prevent oral agreements for real property from being enforceable in court, protecting parties from potential disputes over terms.
In writing and signed by the party to be charged
Notarized to be valid
Notarization is not a requirement under the Statute of Frauds for real estate contracts in Michigan. While notarization may be required for certain documents like deeds, it is not needed for the basic contract to be valid.
Witnessed by two people
While witnessing a contract can provide additional evidence of its validity, Michigan's Statute of Frauds does not require two witnesses for real estate contracts to be enforceable.
Why is this correct?
Option B is correct because Michigan's Statute of Frauds specifically requires real estate contracts to be in writing and signed by the party to be charged to be legally enforceable. This protects parties in high-value transactions by ensuring there is tangible evidence of the agreement.
Continue Learning
Explore this topic in different formats
More Contracts Videos
Continue learning with related video lessons
Ready to Ace Your Real Estate Exam?
Access 2,000+ free video lessons covering all 11 exam topics.