Common ownership implies a single material object and a plurality of subjects. That is, it is assumed that several people own the property at the same time. Relations regarding common ownership are lawful for virtually any entities. For example, it can be legal entities and individuals, municipal and state structures. According to the right of ownership, persons owning common property can dispose of, make a profit, exploit their belongings in accordance with their goals and desires. However, there are some nuances. The common property assumes that its owners will exercise the powers given to them jointly.
We conclude. Owning common property is by no means a new form of ownership. The rules governing cases where there is one object and many entities are based on existing ownership rights. Relevant laws are necessary in order to protect the interests and rights of participants holding joint property.
There are various types of common property. In particular, these are:
- Property that involves the determination of shares. In this case, legal norms are aimed at regulating relations arising regarding common property belonging to many entities in fixed shares. Based on what facts does this type of property usually arise ? Most often these are various civil transactions. For example, buying and selling, creating an economic entity, inheritance that cannot be divided, making an indivisible thing. The common property also includes income, products and other fruits of exploitation, property belonging to many participants. At the same time, they are distributed between the objects in accordance with the size of their shares, unless otherwise provided for by the principle of division in the agreement. It is worth noting that for legal entities, as well as municipalities, the right to own only shared property is available;
- Joint common ownership assumes that there is one object, as well as many entities, but the shares of participants are not defined. The law is designed to regulate relations arising from the ownership of joint property. Owners can dispose of their belongings and operate them in accordance with their goals and desires. In this case, the use of property should occur together, with the consent of all parties. The right to joint ownership implies that each participant can make transactions relating to the common thing, unless otherwise specified in the agreement. In this case, the owner’s agreement concluded without the consent of other persons may be invalidated. If you plan to carry out the division of property, you must first determine the share of each participant. Unless otherwise provided in the agreement, the property shall be divided into equal shares. It is worth noting that civilians have access to both joint and shared ownership of property. Common joint ownership may appear due to various facts. For example, this is the property of the spouses, the joint construction of a house, inheritance and much more.
Shared ownership involves the coordination of actions of all participants. Appropriate legal provisions are necessary in order to protect the interests and rights of all parties. When owning common property, it is assumed that each participant receives a certain benefit. In this case, the disposal of property should take place in such a way as to satisfy the common goals of all persons participating in the agreement.