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Reply to "Is an oral right of first refusal to a friend enforceable?"
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[quote=Anonymous][quote=Anonymous]No. Real estate contracts have to be in writing to be enforceable. [/quote] aka The Statue of Frauds. The SoF says "certain types of contracts to be in writing to be enforceable, preventing fraud by ensuring important agreements, like those for land, guarantees, or those lasting over a year, are formally documented and signed by the parties involved. It serves to create a clear record, reduce ambiguity, and prevent perjury by making oral promises in these specific categories unenforceable, though state laws vary and include exceptions." A real estate right of first refusal is subject to the SoF and thus must be in writing to be enforceable.[/quote]
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