Mr. Sizzle
New Member
- Jurisdiction
- New Jersey
Does the Statute of Frauds apply to leases of homes and apartments? The below description seem like it refers to commercial RE. Anyone have more info on that?
"It is a well-established principle of law that, in most circumstances, documents conveying interests in real estate – such as purchase agreements, leases, easements and mortgages – are subject to the Statute of Frauds and therefore must be established in writing. In New Jersey, however, it is not as well known that leases of real estate for terms of less than three years are not required to be in writing. N.J.S.A. 25:1-12. The right to contract orally also applies to the extension of leases for terms of less than three years and to the assignment of leases with terms (or remaining terms) of less than three years. (See Stark v. National Research & Design Corp., 33 N.J.Super. 315 (App. Div. 1955) (regarding the oral assignment of a lease with less than three years remaining in the term)."
"It is a well-established principle of law that, in most circumstances, documents conveying interests in real estate – such as purchase agreements, leases, easements and mortgages – are subject to the Statute of Frauds and therefore must be established in writing. In New Jersey, however, it is not as well known that leases of real estate for terms of less than three years are not required to be in writing. N.J.S.A. 25:1-12. The right to contract orally also applies to the extension of leases for terms of less than three years and to the assignment of leases with terms (or remaining terms) of less than three years. (See Stark v. National Research & Design Corp., 33 N.J.Super. 315 (App. Div. 1955) (regarding the oral assignment of a lease with less than three years remaining in the term)."
