What is the status of a contract for the sale of property established only on terms discussed verbally?

A contract for the sale of property that is established solely on verbal terms is considered void and unenforceable under California law. For contracts involving the sale of real estate, the Statute of Frauds requires such agreements to be in writing to be legally binding. This law is designed to prevent misunderstandings and fraudulent claims that could arise from verbal agreements.

While there may be informal discussions or understandings among the parties, without a written contract, there is no enforceable agreement. This is particularly important in real estate transactions due to the significant value and complexity involved. Other types of contracts, such as implied contracts, rely on the actions or circumstances of the parties to establish terms, but they still require some form of formal acknowledgment to be enforceable in the context of real estate sales. Thus, a verbal discussion, regardless of intent, does not meet the legal requirements to constitute a binding contract for the sale of property.