Final answer:
The law that requires both spouses to sign the deed when the property is in only one spouse's name is known as the Marital Property Act. It ensures equal rights and interests for both spouses.
Step-by-step explanation:
The law that states that if ownership is in only one spouse's name, both spouses are required to sign the deed when the property is conveyed to another party is known as the Marital Property Act.
This law ensures that both spouses have an equal right and interest in the property, even if it is owned by only one of them. By requiring both spouses to sign the deed, it helps protect the non-owning spouse's rights and prevents any future disputes or challenges to the ownership.
For example, let's say that John and Sarah are married and the house they live in is solely in Sarah's name. If Sarah wants to sell the house or transfer ownership to someone else, both John and Sarah would need to sign the deed to complete the transaction, even though Sarah is the sole owner.