A listing broker in Washington is preparing to list a home owned by a married couple, Tom and Gina. Tom tells the broker that Gina is out of the country and cannot sign the listing agreement right now, but that he has full authority to sign on her behalf. The broker proceeds with only Tom's signature on the listing agreement. Which of the following is the most significant risk in this situation?
Correct Answer
D) The broker may be unable to complete the transaction if Gina refuses to sign the deed, because both spouses must consent to convey community real property
Even if the listing agreement is signed by only one spouse, the actual conveyance of community real property requires both spouses to sign the deed. If Gina later refuses to cooperate, the sale cannot be completed. The broker's most significant practical and legal risk is that the transaction will fall through at closing because Gina's signature on the deed is legally required under Washington community property law (RCW 26.16.030). A prudent broker should obtain both spouses' signatures on the listing agreement and confirm both will sign the deed.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Property Ownership Question
Background Knowledge for Property Ownership
Real World Application in Property Ownership
Common Mistakes to Avoid on Property Ownership Questions
Related Topics & Key Terms
Key Terms:
More Property Ownership Questions
Idaho water rights:
Kansas follows which recording system?
Louisiana's homestead exemption protects:
An encroachment occurs when:
An easement appurtenant in Alabama:
- → An easement by necessity is typically created when a property is in which situation?
- → A Texas property owner grants an oil company the right to drill on their land. This is called:
- → Recording of deeds in Maine is done at the:
- → Alabama's lead-based paint disclosure applies to homes built before:
- → Under Idaho Code §55-1003, what is the current homestead exemption amount that protects a homeowner's primary residence from creditors?
- → Wisconsin is a:
- → In Illinois, which deed provides the greatest protection to the buyer?
- → What is the homestead exemption amount that Oregon law provides to protect a qualifying homeowner's equity from most unsecured creditors?
- → In Vermont, joint tenancy with right of survivorship requires:
- → Pennsylvania's adverse possession statute requires occupation for: