What is the main obligation of the listing agreement once signed by both spouses in a joint tenancy?

The main obligation of the listing agreement, once signed by both spouses in a joint tenancy, is that it remains enforceable against the surviving spouse. This is because in a joint tenancy, both spouses hold equal ownership rights in the property, and the listing agreement represents a mutual understanding and commitment to sell the property.

In the event that one spouse passes away, the surviving spouse retains ownership of the entire property through the right of survivorship inherent in joint tenancy. Consequently, the listing agreement does not become void on the death of one spouse—instead, it remains in effect and obligates the surviving spouse to the terms of the agreement. This ensures that the agreement can be executed and honored, even after one owner has died, allowing for the continuation of the real estate transaction initiated by both parties while they were alive.

This holds significance in real estate transactions, as it provides clarity and legal assurance for the agents and stakeholders involved in the sale process, ensuring that the deceased spouse's estate does not disrupt the ongoing agreement.