What is the main purpose of the Statute of Frauds in real estate?

The main purpose of the Statute of Frauds in real estate is to require contracts for the sale of real estate to be in writing. This legal doctrine serves to ensure that agreements related to real property are clear and documented, helping to prevent misunderstandings and disputes between parties involved. By requiring written contracts, the Statute of Frauds adds a layer of protection for all parties — it provides a tangible reference to the terms agreed upon and establishes a formal record of the transaction. This is especially important given the significant financial stakes typically involved in real estate transactions.

Without this requirement, enforceability of oral agreements in such substantial matters could lead to confusion and contentious situations. Written contracts help clarify each party's rights and responsibilities, thus encouraging accountability and legality in real estate dealings.