Legal Regulation of Property Right in Common Ownership; Notary Public clarifies

Is it in all cases when the property is owned by 2 or more parties, the consent of all owners for property management needs (selling, pledging, donation, etc.)?

It is due to mention that the RA Legislation provides for 2 types of joint property ownership: common shared ownership and common ownership.

Under Article 198, Point 2 of the RA Civil Code, participants in joint ownership, unless otherwise provided by an agreement among them, possess and use the common property in common. The same rule is provided for common shared ownership (Article 192, Point 1 of the RA Civil Code). At the same time, unlike the common property, the common shared ownership provides the existence of of predetermined shares and the possibility to of each shareholder in administering his/her own share. According to Article 192, Point 2 of the RA Civil Code, “A participant in share ownership has the right to sell, give, will, or pledge its ownership share or to dispose of it in another manner with an observance in case of its compensated alienation of the rules provided by Article 195 of the Code.”

The above said shows that the priority right to purchase of the other participants in share ownership does not work in all cases when the share is alienated gratuitously. For example, in the case of donation. Given that the donation contract is a bargain without compensation and in case if shared property regime is established, each of the owners without any obstacle can donate his own share.

Nonna Kamalyan, Notary Public of “Erebuni” District

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

Հետևեք մեզ Facebook-ում

  Պատուհանը կփակվի 6 վայրկյանից...   Փակել