In many ways,
Arizona real estate contracts are like any other
contract. General principles of Arizona contract law
simply require the existence of an offer, acceptance,
consideration, and sufficient specificity of the terms in order
to have an enforceable contract. This is true whether or not
the parties write out the terms and/or sign a written
document.
This is not the
case, however, when the contract concerns the sale of real
property. Where real property is concerned, the Statute of
Frauds (codified in Arizona at A.R.S. Section 44-101(6))
demands that contracts for the sale of real property be written
and signed in order to be enforceable.
It is important to
note, however, that the Arizona courts have consistently held
that only the signature of the "party to be charged" is
required. In other words, the contract must be signed by the
party against whom enforcement is sought but does not
necessarily have to be signed by the charging party. For
example, a seller of real estate who never signed the sales
contract may successfully maintain an action against a buyer
who did sign the contract.
The parties to an
Arizona real estate contract should also remember that any
amendments to the contract must also be written and signed to
be enforceable. Because of the requirements of the Statute of
Frauds, parties buying or selling real estate in Arizona are
advised to demand written confirmation of all the terms and
conditions of the real estate transaction. Frequently, agents
and brokers may make representations and assurances to buyers
and sellers and suggest that a written modification is
unnecessary. Buyers and sellers should avoid the temptation to
rely upon such assurances and ensure that all important matters
are reduced to writing and signed by the other
party.
Unfortunately,
many Arizona real estate contracts are not written and/or
signed and one or more parties find themselves with a need to
seek relief from another party. If you find yourself facing
such a situation you should consult with an experienced Arizona
real estate lawyer as soon as possible to determine whether an
exception to the Statute of Frauds might apply, or if some
other legal recourse is available.
The Arizona
attorneys at Harper Law PLC have years of experience handling
disputes involving written and unwritten real estate
contracts. Don't hesitate to
contact Harper Law and
schedule a
consultation if we
can help you in any way.
