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 3 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 3 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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