Division of property and shares
The division of property and shares – the service of a civil lawyer at the law firm AGTL Kharkiv, Kyiv, Odessa. Property problems are probably the first among the many issues that the modern man solves every day. Unnecessarily inflated real estate prices do not allow to buy apartments or rooms.
The courts are inundated with lawsuits that deal with requests for the settlement of disputed housing issues. There are a lot of problems in the sphere, which is associated with the allocation of a share in the living space.
Under current law, property may be owned by several persons.
If the shares of the owners are determined, the property is in the shareholding. If the shares are not established by the agreement and cannot be determined by law, they are considered equal. Shareholders can set the order of definition, changes in shares. By default, the common property ownership is a share, unless the law provides for the formation of joint ownership of the property.
Shares have not been determined in the joint ownership. Under the agreement of the joint ownership participants, the common property can be established by the shareholding. If agreement is not reached the shareholding property is established by a court decision.
The division of the property, which is in the common (share and joint) property and has taken out of it the shares
Owners of the property in the shareholding are managed by agreement, and each owner has the right to dispose of the shares at his discretion, with respect for its retribution of the right of the rest of the participants to share ownership to the preferential right to buy the sold share at the price for which it is sold, and on other equal terms, except in the case of sale from public tenders.
Very often the issue of the division of property and share rises at the division of the property of the spouses, as well as when the cohabiting family members who have received the living quarters in common property during privatization. It often happens that cohabitation becomes impossible, and the financial situation does not solve the housing issue by purchasing additional housing, then the only way to solve the housing issue is to make a share in the housing for further sale.
Benefits of treatment
Consultation will help to provide the intricacies and consequences of the division of property and issued a share, because sometimes it is more expedient to agree and solve the issue in pre-trial order, and if such an agreement is impossible the specialist will represent your interests in court or tell you how to defend your right.
Decision to allocate a share
The decision on the allocation of the share is possible as a voluntary matter, and the shares are determined independently, by consent, if an agreement is not reached – it will be necessary to go to court.
The property, which is in the shareholding, can be divided by agreement between the owners. The shareholder has the right to claim his share of the common property. If an agreement on these issues is not reached the participant of the share ownership is entitled to demand the issuance of his share of the common property in court. In the case of disproportionate property, the amount of money or other compensation is paid in kind. Compensation in lieu of a stake is allowed only with the consent, but in the case of insignificance of the allocated share, the court can resolve the issue and in the absence of the consent of the owner, obliging the rest of the shareholders to pay him compensation.
If it is not possible to allocate a stake in kind without disproportionate damage to property or not allowed by law, the all-out is entitled to pay him the value of his share by the owners. The shareholding of jointly owned property and the share can be taken out of it after the preliminary determination of each participant’s share in the right to common property.
Allocation of a share in nature
The Civil Code is the definition of “singling out in kind.” It contains an article that explains in detail the concept and explains when such procedures are performed. According to Article 364 of the Ukrainian Civil Code, the co-owner has the right to allocate in kind a share of the property held in the common shareholding.
In addition, if a share of the common property is not allowed in kind in accordance with the law or is not possible (part two of article 183 of the Code), the co-owner, who wishes to be issued, is entitled to receive from other co-owners monetary or other material compensation for the value of his share. This, for example, is possible in the following case: during the life of the husband and wife, a house was purchased or built. In fact, this private structure is a real estate property of several people. In the case of its partition, the spouses may be willing not only to share their property, but also to allocate actually shares in kind in the order of division of property, so that it is clear who can use and dispose of what.
It would seem that everything is simple. However, people far from jurisprudence find it difficult to navigate what the law says. The division and allocation of a share in kind is carried out with the provision of the Conclusion on the technical possibility of separating the real estate object or the Conclusion on the technical possibility of issuing in kind a share of the real estate, which is difficult to do without the help of a specialist.
The very same procedure for allocating shares in kind is described in detail, however, people need further clarifications of legal experts – lawyers, as to what situations and how the procedure is carried out, when it can be divided and allocated, and when compensation for a share in the common property is made.
Division of the couple’s common property
The joint ownership of the spouses ceases to exist due to its partition. As a result, each spouse becomes the independent owner of a part of the previously owned common property.
The division of the couple’s joint property may be made both during the marriage, or at the dissolution of the marriage or after the divorce. The section is made at the request of one of the spouses, the simultaneous request of both spouses or in the case of the creditor’s application for the division of the common property of the spouses in order to seek foreclosure on the share of one of the spouses in the common property.
In the absence of disagreements, spouses can independently enter into an agreement on the division of their common property. The Family Code does not impose any specific requirements on the form of such an agreement. It can be concluded orally or in writing, at the request of the spouses this agreement can be notarized.
In the event of a dispute, the division of the couple’s common property, as well as the determination of their share in the property, are made in court.
Circumstances to be established
When considering the dispute between spouses on the division of joint property, the court establishes:
The composition of the property to be divided;
The lack of rights of third-party claims for the property;
What property is to be transferred to each spouse;
Appropriate monetary or other compensation, which may be awarded to the spouse if the other spouse is transferred to property whose value exceeds the share owed to him;
Other noteworthy circumstances.