Statute of Frauds and Statute of Limitations for Real Estate Contracts

August 22, 2019

Statute of Frauds and Statute of Limitations for Real Estate Contracts

Statutes of Frauds, Statutes of Limitations for Real Estate Contracts image

Statute of Frauds

The statute of frauds requires that contracts conveying an interest in real property and contracts that are not to be performed within one year of the date created must be in writing and signed to be enforceable. An enforceable contract is a legally binding contract that the courts will recognize. Contracts covered by Florida’s statute of frauds include the following:

Purchase and sale contracts
Option contracts
Deed and mortgage instruments
Lease agreements for a term longer than one year
Listing agreements for a term longer than one year

Statute of Limitations

The statute of limitations classifies the period of time during which the terms of a contract may be enforced. It protects people from being compelled to perform or otherwise be sued after a period of time has expired. The times vary, depending on whether it is an oral contract or a written contract:

Written contracts -- five years
Oral contracts -- four years
Partly written and partly oral -- five years for the written portion and four years for the oral portion

Check out Florida Civil Statute of Limitations Laws.

Disclaimer: This post does not constitute legal advice. For legal advice, please contact an attorney directly.