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

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The part performance exception allows enforcement of an oral contract for the sale of land 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.

The Part Performance Exception to the Land Contract Provision of the Statute