Sister bought house from mom and dad (oral agreement, legal terms)

Hi, My mom and dad bought their house 12 years ago. They were never late on a payment. About 2 years ago they got into financial problems, so my sister and brother in law offered to buy their house . They had an oral agreement with 4 witnesses that our parents could live in the house until they died.They had to pay yearly taxes and do the upkeep on the house. Recently my sister and her husband split up and now she is trying to get a morgage on the house and force our parents out!! They are in there 60's and have nowhere else to go. Is there any legal recourse that can help them in this situation?? Please help as they are worried sick that there is nothing they can do and will be forced out... Thank you

In real estate transactions, oral agreements hold no legal power. This is due to a legal term called Statute of Frauds. All real estate transactions must be in writing.

Your parents have no choice but to move. They do not own the house anymore, and they have no written agreement.