To be legally binding, what must a real estate purchase agreement include according to the statute of frauds?

A real estate purchase agreement must include the signature of all parties involved to be considered legally binding, as stipulated by the statute of frauds. This requirement exists to ensure that there is mutual consent between the parties and that they are formally committing to the transaction. The statute of frauds is a legal concept that mandates certain contracts, including those related to real estate, to be in writing and signed to prevent potential fraud and misunderstandings that might arise from verbal agreements.

In contrast, verification of funding, while important in the context of securing the financial aspects of a property transaction, is not a requirement for the agreement to be binding. Similarly, a deed to the property and notarization by an official are not necessary components of the purchase agreement itself to satisfy the statute of frauds. A deed is usually executed after the agreement, and notarization is typically not a legal requirement for a contract to be enforceable. Therefore, the necessity of all parties' signatures is the critical element that ensures the agreement's validity.