If more than one person owns a property in fractions, they are the co-owners. Unless otherwise stated, they are co-owners in equal parts. Each co-owner has for his share the rights and obligations of an owner. This means that the shares can be sold and pledged. A buyer can buy a certain share of a house or land. The successors can inherit the shares. Management and use of the whole item are to each co-owner but not at the expense of other co-owners.
Co-ownership of a property arises from the purchase, heritage sharing, adverse possession distribution, or distribution of the property of the spouses. Whenever there are several people, it can lead to disputes, especially when sharing a property. The most common cases occur in divorced spouses and in divided heirloom communities. In such cases, the owners have right to demand the termination of the property. Co-ownership can either be terminated by mutual agreement through a legal transaction or by court order.
Judicial termination is carried out by geometric division of the property, e.g. if a house with a garden is split in half. Should this be legally and practically impossible, the termination may appear in public auction by division of the proceeds or division into condominium ownership. If owner has a good reason to do so, he may require a transfer of the whole item with the purchase of the other co-owners. Co-owner, who has at least a 9/10 shares of the whole thing, does not need to give any specific reason for his request.
Judicial termination in a non-contentious procedure is initiated by request of a claimant to the competent court. Each co-owner has the right to demand the termination of co-ownership at any time. The cancellation may not be required at an inconvenient time. If there are no obstacles in the claim, the court orders an observation by an expert witness to identify and evaluate the property. If there is a dispute about the size of the shares, the court will suspend the application of termination. Nevertheless, the termination may follow by a claim for division or a judgment, rather than in a non-contentious procedure.
The aim of a termination is to establish sole ownership. This can only be done by the entry in the land register on the basis of the judgment. If the judgment is not registered in the land register, it is not valid for a third person.