Is it possibleornotjointownershiptermination?
By law, each co-owner may at any time request the termination of joint ownership. It is possible for the right to request termination of joint ownership to be excluded by agreement, either permanently or for a specified period. In such cases, if there is a valid reason, a co-owner may request termination of the right.
According to the Code, any agreement that contradicts the above rules is void. For example, an agreement that excludes the right to request termination of joint ownership even in the presence of a valid reason is void.
Joint ownership is terminated by partition in kind, if the joint property can be divided into homogeneous parts without reducing its value, and the division of equal shares among the co-owners is done by drawing lots. For example, raw materials or various products can be divided in kind. If the co-owners have equal shares, then when dividing the property, which part should go to which co-owner is determined by drawing lots.
However, there are items that cannot be divided in kind, for example, a car, or there are cases where division is prohibited by law, for example, an agricultural land plot. In such cases, joint ownership is terminated by selling the joint property or land plot and distributing the proceeds.
It is noteworthy that the request for termination of joint ownership is not subject to limitation periods.
Always remember that the best way to protect your rights is to be informed. Knowledge of legal matters is a guarantee that you will always feel protected.
