WAYS OF MODERNISING THE DIVIDED USE OF CO-OWNED REAL ESTATE
References: 5th International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM 2018, www.sgemvienna.org, SGEM2018 Vienna ART Conference Proceedings, ISBN 978-619-7408-30-0 / ISSN 2367-5659, 19 - 21 March, 2018, Vol. 5, Issue 1.1; 403-410 pp, DOI: 10.5593/sgemsocial2018H/11/S02.052
Co-ownership represents an encumbrance of the entire property. Encumbrances take the form of the mandatory approval of any action involving a co-owned item to be obtained by every co-owner of real estate from other co-owners, thereby restricting the exercise of a co-owner’s property right. It should be stressed that property is an absolute right in rem, one of the fundamental rights of every individual; therefore, any restriction must be soft to the maximum extent practicable, granting the owner the widest possible margin of discretion. The divided use of a co-owned property is a way of minimising the restrictive nature of co-ownership.
This article analyses the divided use of a co-owned property, including issues associated with the legal nature of agreements on the divided use of a co-owned property and legal aspects of public registration, as well as rights of co-owners arising out of the divided use of a co-owned property.
Keywords: co-ownership, divided use of a co-owned property, Land Register, fundamental rights
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