Real Estate Contracts Law

Real estate contract law governs agreements related to buying, selling, or leasing property. A real estate contract outlines the terms and conditions, including price, property description, and timeline for the transaction. Both parties must voluntarily agree to the terms, and the contract typically needs to be in writing to be enforceable. Key elements include offer and acceptance, consideration (something of value exchanged), and mutual consent. It protects the rights of buyers and sellers, ensuring clarity and accountability in property transactions. Breaching these contracts can lead to legal consequences.