Get it in Writing – FL Supreme Court on Extension of Time to Sell Real Estate

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For the second time in so many weeks, the Florida Supreme Court has issued a “bright line” opinion, this time regarding the writing requirement in real estate contracts.

In DK Arena, Inc. v. EG Acquisitions I, Inc., the Florida Supreme Court reiterated that, as it relates to real estate contracts (as in the DK case), even extensions of time to conduct due dilligence before closing, must be in writing to be enforceable.

This opinion, originally released on March 28, 2013, and corrected on April 11, 2013, set forth that promissory estoppel is not an exception to Florida’s Statute of Frauds.  Therefore, it is important that any modifications to any real estate contracts be memorialized in a writing in order to maintain their enforceability.  This issue is becoming especially important at this time, as real estate contracts, both residential and commercial, is becoming more active.

For additional information:

In Miami: 305-567-5576

In Broward: 954-929-1899

In Palm Beach: 561-361-6566

ERIC N. ASSOULINE, ESQ.

ASSOULINE & BERLOWE, P.A.

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, and Corporate Law

Miami · Ft. Lauderdale · Boca Raton

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Filed under Business Litigation, Real Estate

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