Study for the California Escrow Exam. Dive into detailed content with flashcards and multiple choice questions, accompanied by explanations and hints. Ensure your success on test day!

Multiple Choice

Under the statute of frauds, which contracts must be in writing?

Under the statute of frauds, contracts that involve the sale or transfer of real property or an interest in real property must be in writing. A real estate listing agreement creates the agency relationship and sets the terms for selling land, so it must be in writing. A real estate purchase agreement is the actual contract to transfer ownership of the property, clearly requiring writing. A contract between brokers to share a commission, while related to a real estate transaction, does not itself transfer an interest in land and isn’t the type of real estate conveyance contract the statute targets, though putting it in writing is often wise for clarity. Therefore, both the listing and the purchase agreement must be in writing.

Under the statute of frauds, contracts that involve the sale or transfer of real property or an interest in real property must be in writing. A real estate listing agreement creates the agency relationship and sets the terms for selling land, so it must be in writing. A real estate purchase agreement is the actual contract to transfer ownership of the property, clearly requiring writing. A contract between brokers to share a commission, while related to a real estate transaction, does not itself transfer an interest in land and isn’t the type of real estate conveyance contract the statute targets, though putting it in writing is often wise for clarity. Therefore, both the listing and the purchase agreement must be in writing.