Agent Trosclair's broker holds a listing for a property owned by Mr. and Mrs. Guidry, a married couple. The property was purchased during the marriage and is community property under Louisiana Civil Code. Mr. Guidry instructs Agent Trosclair to accept an offer without informing Mrs. Guidry. How should Agent Trosclair proceed under Louisiana law?
Correct Answer
C) Advise Mr. Guidry that both spouses must consent to any sale of community property and that Mrs. Guidry's signature is required.
Under Louisiana Community Property Law (La. Civil Code Arts. 2327–2437), all property acquired during a marriage is presumed community property. Any act of sale, mortgage, or lease exceeding three years of community property requires the written consent and signature of both spouses. Agent Trosclair must advise Mr. Guidry that Mrs. Guidry's consent and signature are legally required before any valid transfer of the property can occur. Proceeding without her consent would result in an unenforceable transaction.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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