Legal Question in Real Estate Law in Maryland
Sell of Property
Do we have to complete the sell of our house after a contract has been signed by one spouse if the other spouse's name is on the deed of trust, also can the buyer be the selling agent who want to charge a 3 1.2% commission and the house is not listed with a real estate agent but being sold by owner, what rights do I have not to sell as the spouse with a vested interest if my name is not on the deed or mortagage...help! What would make the contract void?
1 Answer from Attorneys
Re: Sell of Property
Since your name isn't on the deed of conveyance, which is the document that identifies the legal owner of the property, your spouse can sell the house without your consent. Whether your name is on the deed of trust (mortgage) is irrelevant because that will be paid off. As for as the "commission" is concerned, normally what happens in these scenarios is the agent contacts the seller and says they have a potentially interesed buyer and asks if the seller would be willing to pay a commission. If the seller agrees, the agent gets the commission if the agent's prospect becomes the buyer. In this situation, unless the agent revealed that in fact they were the interested party, I don't think it's appropriate to expect a commission. If your spouse signed a commission agreement with the agent, that might answer your question as to the agent's right to the commission.