Question

You have a listing with a couple who hold title in joint tenancy. A broker brings you an offer and the couple indicates that they will probably accept the offer, but they want to think it over for a few hours. During those few hours they are involved in a traffic accident and one of them is killed. What would be the status of the listing?

a. The listing agreement is enforceable against the surviving spouse
b. The listing agreement is cancelled.
c. The offer to purchase is void.
d. The offer to purchase is still valid.

Answer 1

The answer is A- The listing agreement is enforceable against the surviving spouse

Step-by-step explanation:

The listing agreement is enforceable against the surviving spouse because the couple which includes both dead and surviving spouse earlier indicated that they might accept the offer. In joint tenancy, upon the death of member the survivor immediately inherits the property. Since the couple held a title in joint tenancy then the listing contract is valid and the surviving spouse can choose to sell the property.