Is a joint tenant entitled to a higher price than the appraised value of the property?
Ontario, Canada
The following excerpt is from White v. White, 2021 ONSC 6018 (CanLII):
That court, at paragraph 63, went on to cite Granger J. in Batler v. Batler: A joint tenant is entitled to the highest price for his or her interest which may be more than the appraised value of the property. In today's real estate market, the appraised value of the property may not reflect the fair market value. The true test of the fair market value is to sell the property in an open market. Unless the parties agree to a transfer of the property at an agreed price, the property should be listed for sale and sold, to ensure that fair market value is obtained.
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