diff --git a/src/wallet/rpcwallet.cpp b/src/wallet/rpcwallet.cpp
index 78226452c..9d8ae70a6 100644
--- a/src/wallet/rpcwallet.cpp
+++ b/src/wallet/rpcwallet.cpp
@@ -2535,14 +2535,14 @@ UniValue z_listunspent(const UniValue& params, bool fHelp)
             }
             string address = o.get_str();
             auto zaddr = DecodePaymentAddress(address);
-            if (IsValidPaymentAddress(zaddr)) {
-                auto hasSpendingKey = boost::apply_visitor(HaveSpendingKeyForPaymentAddress(pwalletMain), zaddr);
-                if (hasSpendingKey) {
-                    zaddrs.insert(zaddr);
-                }
-            } else {
+            if (!IsValidPaymentAddress(zaddr)) {
                 throw JSONRPCError(RPC_INVALID_PARAMETER, string("Invalid parameter, address is not a valid zaddr: ") + address);
             }
+            auto hasSpendingKey = boost::apply_visitor(HaveSpendingKeyForPaymentAddress(pwalletMain), zaddr);
+            if (!fIncludeWatchonly && !hasSpendingKey) {
+                throw JSONRPCError(RPC_INVALID_PARAMETER, string("Invalid parameter, spending key for address does not belong to wallet: ") + address);
+            }
+            zaddrs.insert(zaddr);
 
             if (setAddress.count(address)) {
                 throw JSONRPCError(RPC_INVALID_PARAMETER, string("Invalid parameter, duplicated address: ") + address);