What law requires contracts to be in writing for enforceability in Indiana real estate?

The correct answer is derived from the Statute of Frauds, which is a key legal principle that mandates certain types of contracts, including those related to real estate transactions, to be in writing to be enforceable. This law aims to prevent fraud and ensure that there’s clear evidence of the agreement and its terms, which is particularly important in real estate due to the significant financial stakes involved and the complexity of such transactions.

In the context of Indiana real estate, any contract that involves the sale of land or the lease of property for more than one year must comply with this statute. Writing down the terms of the agreement not only clarifies the intentions of the parties but also provides a reliable record should disputes arise in the future.

The other choices do not pertain to this specific requirement. The Uniform Commercial Code primarily governs commercial transactions and personal property rather than real estate. The Statute of Limitations relates to the timeframe in which legal actions can be initiated, but it does not affect the necessity for a writing in real estate contracts. The Real Estate Licensing Act governs the practice and regulation of real estate agents and brokers, focusing on licensing rather than the enforceability of contracts.