When must real estate contracts be in writing?

Real estate contracts must be in writing as dictated by the statute of frauds, which is a legal principle that originated to prevent fraud and perjury in certain types of agreements. This statute requires that contracts related to the sale of real estate, leases for a duration of more than one year, and any agreement that cannot be performed within one year must be documented in writing to be enforceable. This written requirement provides clarity and evidence of the terms agreed upon by the parties involved.

The other choices provide scenarios that do not align with the requirements set forth by the statute. For instance, a lease of less than one year may not legally require a written contract, and verbal agreements can be binding in certain situations but are often difficult to enforce without written documentation. Additionally, the notion that a contract must be in writing only if requested by one party does not account for the legal obligations outlined in the statute of frauds. Understanding this statute is essential for ensuring that real estate transactions are valid and enforceable.