How to divide equity property in the apartment

Section of the apartment, which is in shared ownership, shall be allowed after determination of the share owned by each owner. After this definition we can identify the due share in kind or to obtain monetary compensation from the other owners.

In the presence of equity ownership of the apartment from one of the owner often there is a desire to allocate their share for later use, and dispose of or obtain for it compensation. If the size of the shares of all owners not originally identified, then the share of each of them are considered equal.

Sizes different from the participants of share ownership may provide, by concluding a special agreement. If any party has accomplished is inseparable significant improvement of the apartment in accordance with the established civil law of the order, the size of its share is expected to increase the cost of these improvements.

The procedure of dividing the apartment in common ownership

The right to demand the separation of its share of the apartments in common ownership, any participant of common ownership. If other owners agreed upon, this allocation is implemented on the basis of the agreement. If you agree with other participants of shared ownership of the apartment failed, the interested owner can go to court.

In this case, the allocation is carried out on the basis of a judicial decision taken by results of consideration of the case. Sometimes the allocation of shares is not possible for objective reasons (for example, having multiple owners of one-bedroom apartments), therefore, the court may require the other owners to pay compensation to the participant, who wished to allocate their share.

What happens after the decision of the court?

After the court decision on the allocation of shares should wait for its entry into force. Then the interested party may apply to the registered bodies, who will make the necessary changes in the register and issue a new certificate of title on the basis of the said judicial act. If the court establishes the obligation for other participants shared ownership of the apartment to compensate, you should get a certain amount from each proprietor, after which the ownership of the person shall be deemed terminated.

As a General rule for compensation instead of the actual allocation of a share in immovable property requires the consent of the owner, who claims to be a selection. However, in some cases the court may decide on the payment of compensation even in the absence of this consent (for example, in case of impossibility of allocation of a share and the lack of interest in the use of the property by the applicant).