The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

Question

Spoorthi Varma · Accepted Answer

Final Answer : True, Explanation :  The part performance exception to the statute of frauds for land contracts typically requires that the buyer has made a partial payment, taken possession of the property, or made significant improvements to it, as evidence of the agreement's existence and terms.

The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

Definitions

Learning Objectives

Learning Objectives

Related questions