Oregon 30-Hour Real Estate Law Practice Test

What's typically required for a valid lease agreement?

1. A witness present during signing

2. Written documentation of the agreement

3. A payment of rent upfront

4. A notarized signature

The correct answer is: Written documentation of the agreement

A lease agreement is a legally binding contract between a landlord and tenant, outlining the terms of the rental of a property. For it to be considered valid, it is typically necessary to have written documentation that clearly states the terms and conditions of the lease, including details such as the length of the lease, rent amount, and obligations of both parties. This written form helps to provide clarity and reduce any potential disputes regarding the agreement. While having a witness present during signing, payment of rent upfront, or a notarized signature may be beneficial or required in certain scenarios, they are not universally necessary for the validity of a lease. The primary requirement for most lease agreements, especially those lasting longer than a year, is that they be written. This requirement is supported by the Statute of Frauds, which mandates that certain agreements, including leases lasting over a year, must be in writing to be enforceable.