A part performance exception to the statute of frauds in many states requires both that the transferee has paid at least 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

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The part performance exception allows enforcement of an oral contract for the sale of real estate if the buyer has taken significant steps, such as paying part of the price and taking possession or making improvements, indicating the existence of a contract.

A Part Performance Exception to the Statute of Frauds in Many