What does the Statute of Frauds require for real estate contracts?

The Statute of Frauds is a legal principle that specifically requires certain contracts, including real estate contracts, to be in writing to be enforceable. This means that for a contract related to the sale, transfer, or lease of real property to be valid, it must be documented in a written format. This requirement is designed to prevent misunderstandings and disputes regarding the terms of the agreement and provides clear evidence of the parties' obligations.

The other options focus on aspects of real estate transactions that are important but do not pertain directly to the Statute of Frauds. Mandating seller disclosures involves separate state laws aimed at ensuring that all relevant information about a property is shared with potential buyers. Misrepresentation by licensees is related to ethical practices and licensing laws that protect consumers from false statements about properties. Finally, the verification of material facts by real estate agents pertains to the diligence required in ensuring that information presented to buyers and sellers is accurate, but again, this falls outside the scope of the Statute of Frauds.

Therefore, the essence of the Statute of Frauds related to real estate is firmly rooted in the requirement that contracts must be written to be considered valid.