Assisted by Tom Dearden
The purchase of a family home is usually the largest purchase
that you will make in your lifetime. It should therefore come as no
surprise that there are strict laws regarding how properties may be
purchased and sold to help prevent properties fraudulent
transactions. One of these laws is that contracts for the sale of
property must be in writing and signed by the seller (the
"vendor").
However, there are times where a property may be validly sold
without a written contract, on the basis of an oral agreement.
This blog explains how an oral contract for the sale of property
may be enforced and discusses a recent decision of the NSW Supreme
Court on this issue.
