is it legal to drop the price of a home without one of the owner’s approval?
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is it legal to drop the price of a home without one of the owner’s approval?
My ex-wife lives in our home which is now on the market; I no longer live there. The asking price was lowered without my knowledge or consent. I found out that the price was lowered while looking at my home on a website.
Asked on March 28, 2018 under Real Estate Law, Missouri
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
The law is clear on this, all legal owners must agree as to the sales price of a property. Accordingly, the price of a listed property cannot be reduced with the consent of each and every owner. Who does or doesn't live on the premises as no bearing.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
No, it cannot be reduced without your consent. If you are both owners (both on the title), your ownership rights are equal--that she lives there and you do not has NO bearing on ownership or your rights in regard to a sale. All owners must agree on a sale price.
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