Question

A lease for a period of more than one year must be in writing to comply with the __________ . (a) leasehold estate (b) statute of frauds (c) landlord and tenant act (d) tar residential lease

Answer 1

(b) Statue of frauds

Statue of frauds is generally the requirement of particular contracts to be in writing and signed by all parties involved in an agreement. In the context of real estate, the statue of frauds protects tenants from unfair eviction or tenancy termination. Similarly, it protects property buyers from sellers’ “change of mind” or refusal to sell the property on the grounds that the seller obtained a higher offer price from another interested buyer. However, there are exemptions to the statue of frauds which vary from state to state.