Q: I entered in to a verbal agreement purchasing a 10% ownership in a farm that was purchased together. is it enforceable?
This was not an existing estate, but purchased together. I am currently going through divorce and they are unwilling to hold up to the agreement, only offering back what I put in to it initially and not valuing any of the 10s of thousands of hours and materials bought etc. Do I have legal recourse. The transaction was on the Oregon coast.
A:
I really don't understand the situation, but be aware:
1. The Oregon Statute of Frauds requires that an agreement to buy or sell property must be in writing and signed by the party to be bound.
2. In a rather interesting case, the Courts in Oregon determined that an agreement to create a joint venture, even though involving real estate, was not an agreement for the sale of real estate, and might be enforceable even though not in writing.
3. Even in the case of an agreement for the sale of real estate which is only verbal, the courts may nonetheless enforce the agreement if on party changed position, acting in reliance upon the promise of the other party.
This is not something you can analyze yourself, or solve on the internet. Find a good lawyer.
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