Contracts
The Illinois Statute of Frauds requires that real estate contracts be:
ANotarized by a licensed notary public
BIn writing and signed by the party to be charged✓ Correct
CWitnessed by two independent witnesses
DFiled with the county clerk within 30 days of execution
Explanation
Illinois's Statute of Frauds (740 ILCS 80) requires that contracts for the sale of real estate must be in writing and signed by the party against whom enforcement is sought (the 'party to be charged'). Oral real estate contracts are generally unenforceable in Illinois. Exceptions include part performance (partial payment, possession, improvements) which may permit enforcement of an otherwise unwritten agreement in equity.
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