Contracts
In South Dakota, the Statute of Frauds requires which type of real estate agreement to be in writing?
AOnly residential purchase agreements
BAll contracts for the sale or lease of real estate over one year✓ Correct
COnly commercial transactions exceeding $500,000
DOnly contracts involving financing contingencies
Explanation
The Statute of Frauds requires contracts for the sale of real estate and leases exceeding one year to be in writing and signed by the party to be charged to be enforceable.
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