Idaho Real Estate Practice Exam

If a couple owns their residence as joint tenants and wishes to list their property for sale, who must sign the listing agreement to be enforceable?

1. Only one spouse

2. Both spouses

3. The broker only

4. The property manager

The correct answer is: Both spouses

In the context of joint tenancy, both spouses have an equal and undivided interest in the property. This legal framework requires that any decision regarding the property, including the sale of the property, must be made jointly by both owners. For a listing agreement to be enforceable, it must be signed by all parties who have an ownership interest in the property. Since both spouses are joint tenants, both must sign the listing agreement. This ensures that both owners are in agreement regarding the sale and have consented to the terms laid out in the listing. Without the signature of both spouses, the listing agreement could be challenged or deemed invalid, potentially creating legal complications for the sale process. In this scenario, the roles of the broker and property manager, while important in the context of real estate transactions, do not hold the authority to sign on behalf of the owners. A single spouse signing alone would not suffice, as it does not reflect the joint ownership status, thereby emphasizing the necessity for both spouses' signatures.