Property Management
A residential lease in Illinois for a term of more than one year must be:
AApproved by IDFPR before it becomes effective
BIn writing to be enforceable under the Statute of Frauds✓ Correct
CWitnessed by two witnesses and notarized
DRecorded with the county recorder's office
Explanation
Under the Illinois Statute of Frauds, leases for a period longer than one year must be in writing to be enforceable. A lease for one year or less may be oral, though written leases are always advisable to avoid disputes.
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