Allocation of a share from the property that is jointly jointly owned

Do you need to sell an apartment or a house? Pay attention, first of all, to the type of joint ownership. Real estate can be, for example, in joint partial ownership or joint co-ownership. If you are interested in such a service as the separation of a share of property that is jointly owned, Prikhodko and Partners specialists will help you determine all its legal aspects.

What is joint co-ownership?

Joint co-ownership is a property that does not provide for the allocation of shares to each of its owners. That is, disposal of property is possible only with the consent of other owners.

Joint partial ownership involves the following: each of the co-owners owns a certain share of housing (1/2, 1/3, etc.). Among the most common reasons for the emergence of joint co-ownership:

1. Receiving an apartment as an inheritance by several heirs at the same time.
2. Division of real estate that was jointly owned (for example, after a divorce).
3. Joint purchase of real estate together with other family members.

For example, a spouse's apartment may be jointly owned. To sell your share in such an apartment, you first need to allocate it in kind. A notary is engaged in the allocation of a share of the property. You will be able to sell your share only after completing all the necessary documents.

Importantly:

If it is not possible to obtain consent from all co-owners regarding the allocation of shares in kind, you can turn to the court for help.

The legislative basis for the allocation of shares from property that is jointly jointly owned

According to Article 358 of the Civil Code of Ukraine, the right of joint partial ownership is exercised by co-owners with their consent. Each of the real estate owners can apply for the use and ownership of a certain part of the common property in kind. This share corresponds to his share in the right of joint ownership.

Article 364 of the Civil Code of Ukraine clearly defines that each of the co-owners can allocate their share in kind. If the co-owner cannot exercise this right, he can demand appropriate material compensation from the other co-owners. The emergence of a conflict situation in most cases can be resolved in court.

Termination of the right to share in joint property is possible in the following situations:

• The share of the property is insignificant. It cannot be isolated in kind.
• The real estate object is indivisible.
• Joint use and ownership of property is impossible.
• Termination of the right to ownership will not cause significant damage to the interests of other co-owners.

Peculiarities of allocating in kind a share from common property

In order to determine the possibility of allocating a share of real estate in kind, it is necessary to contact the business entity that is responsible for carrying out a technical inventory of real estate objects.

Documents that must be collected include:

1. Applications from all co-owners, notarized.
2. Technical passport for the real estate object.
3. Document - confirmation of ownership of the land plot (if available).
4. Title documents for the real estate object.

After the conclusion is received, the co-owners should contact a notary, who will help conclude an agreement on the allocation in kind of a share of the real estate object and its notarial certificate.

Lawyer's assistance in allocating a share of jointly owned property

If you need to allocate a share of the property that is jointly owned, lawyers Prykhodko and Partners will be able to help you with this. We will provide the necessary information and advise you on issues related to the preparation of documents for housing that is jointly owned. Our lawyers will develop an individual algorithm of actions for the allocation of a share from the property of joint co-ownership.

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