Real estate division

Co-ownership of real estate is often accompanied by problems related to the use, maintenance and storage of the properties. It can occur at general acquisition, but also after life-changing life events – after divorce, by inheritance. Often, the state of co-ownership is undesirable, and is seen as a "burden" insofar as for any decision on the type and manner of use of the object (property), or for disposal of it, the full consent of the other or the other co-owners is required, which is mandatory by law.

Voluntary division

Co-ownership, however, is not an immutable legal status, but can be terminated, in different ways, depending on the desire of all parties, and also on the legal status – the real rights on real estate. The easiest and fastest way to liquidate co-ownership is the voluntary division, objectified in contract, by virtue of which several common real estates become the exclusive property of one or part of the co-owners, and the other part receives in exchange cash or other real estates for which an agreement has been reached. With this type of contract, participation of all co-owners is necessary, either in person or by proxy. After the confession of the contract, depending on the parameters, the co-ownership is liquidated and each individual can dispose of his own property as he sees fit.

Judicial division

However, lack of consent does not mean that co-ownership can be a perpetual state. In these cases, the legal way to liquidate the co-ownership is the judicial division. This is a legal proceeding in which the properties to be divided, all rights and claims on them, all objections of the co-owners to their maintenance, to the improvements, to the gratuitous use, to the settlement of accounts between the co-owners (co-owners), as well as set forth any objections - for acquisition by statute of limitations by a co-sharer, for lack of real rights on the properties by another, etc. The judicial division develops two judicial and one executive phase, which are roughly called proceedings for the admission of the partition, and proceedings for the execution of the partition and proceedings for the transfer of the partitioned properties to public sale. In each of these phases, it is extremely important that all objections of the parties are made in time, as each of them can be of great importance to the development of the proceedings.

Sold on a subdivision property

The public sale of indivisible divisible property is also a production that has its own characteristics. The sale is carried out by a public or private bailiff, at a price determined by an expert - an independent appraiser, and is available for participation by all persons, not just co-owners. However, depending on the desire of the co-owners, it is possible for the auction to be carried out only between them, if certain conditions are present - for example, a claimed privilege to buy the property. It is also possible that none of the co-owners wants to acquire the property, in which cases the common interest is to achieve the highest price at the auction, which is why it is important to specify this already when the property is put up for public sale.