With daily development of economic relations between people are cases not only the acquisition of a separate property, but its share.
What is meant by common ownership?
Fractional ownership - is movable or immovable property owned by several people, divided into specific shares of each of the owners.This property confers on its owner not only the right to receive certain income or profit in relation to the shares held by him, but also imposes on him the obligation to repay the costs in respect of its interest.
Fractional ownership is usually expressed as a percentage or share ratio (for example: 1/5 share of the house).
Acquisition of real estate, which is shared property, at first glance no different from the sale of real estate, which has one owner, but it is only at first glance.Legislated standards in connection with the sale of that share ownership could be delayed or not occur at all.
norms of the Civil Code provision on the consolidated pre-emption sell or swap property (houses, cottages, garages, apartments, etc.).Such a right exists only when making a reimbursable transaction, if the offered share ownership, the rule of pre-emption does not apply.
If one of the equity owner intends to alienate its share of real estate unauthorized person, it must initially be made aware of the proposed transaction the co-owners of the property, describing in detail the cost of sale and its terms.After that, the remaining real estate investors can either buy a share of a disposal or refuse such acquisitions.
If any of the holders expresses the wish to buy a share belonging to the seller of the property disposed of, according to the established conditions by the Seller, Seller shall not refuse a law.In the process of acquisition of common ownership of the equity holders increased in relation to other co-owners.
If the buyer alienated share property is a co-owner and not a third party, then notify the other shareholders is not legally required.
If the co-owner or co-owners refused to purchase his proposed share, the transaction can be issued to a prospective buyer.However, in order to avoid any subsequent litigation or invalidation of the transaction, the Seller shall properly notify the co-owners by giving them a written notice.
receiving written notice, co-owner, not the intention to acquire the proposed share is obliged to issue a written waiver of pre-emption by a notary.Such withdrawal must be completed prior to the transaction, either directly under the transaction.
When making a transaction in which the object is a shared ownership, except for waiver of purchase is necessary to collect a standard list of documents: passports of all participants in the transaction;documents confirming the ownership of real estate (certificate of inheritance, deed of gift, privatization, rent, sale and so on.);an extract from the Bureau of Technical Inventory at the piece of real estate;if the dwelling is sold, it is necessary to present a certificate confirming the presence / absence of registered persons in real estate;all related consent (consent of the spouse, family members of OPEC).
If the object of the transaction is a part of the house to the ground, then you need to take care not only about the validity of the documents on the part of the house, but also on the part of the documents for the land.
