“Order of Possession, Use, and Disposition of Property that is in Joint Ownership” Public Notary clarifies. Disposition of property that is in joint ownership shall be conducted by agreement of all the participants which shall be presumed regardless of which of the participants conducts a transaction for disposition of the property.

Each of the participants in joint ownership has the right to conduct transactions for the disposition of the common property unless otherwise follows from an agreement of all the participants. A transaction made by one of the participants in the joint property connected with the disposition of the common property may be declared invalid on demand of the remaining participants on motives of the absence for the participant who made the transaction of the necessary powers only in the case if it is proved that the other party to the transaction knew or clearly should have known of this.

Anahit Ghazaryan,

Notary Public of Erebuni District.

“Public Notary Clarifies” heading is the joint initiative of Iravaban.net and the Notary Chamber of the RA, which is aimed to raise the level of legal awareness of the population.

Source: Iravaban.net