Contracts
Under Michigan law, real estate purchase agreements must be:
ANotarized to be valid
BIn writing to be enforceable under the Statute of Frauds✓ Correct
CFiled with the county clerk within 10 days
DApproved by LARA before closing
Explanation
The Statute of Frauds requires that real estate contracts be in writing to be legally enforceable. Oral real estate contracts are generally unenforceable in Michigan.
Related Michigan Contracts Questions
- In Michigan, a counteroffer legally:
- In Michigan, a 'right of rescission' for a buyer applies automatically under which federal law for refinancing a primary residence?
- In Michigan, if a seller receives two offers simultaneously, the seller is legally required to:
- In Michigan, a purchase agreement with an 'inspection contingency' allows the buyer to:
- In Michigan, a 'title contingency' in a purchase agreement allows the buyer to:
- In Michigan, a 'release' in a real estate contract is a document by which:
- In Michigan, the 'four corners' rule in contract interpretation means:
- In Michigan, a contract for the sale of real estate is said to be 'executed' when:
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →