If you own property in co-ownershipit can cause various complications and practical problems. Co-owners may, for example, have difficulty agreeing on the payment of costs for the common property, making other decisions regarding the common property, or may not agree on the use of the common property.
Do you have issues related to co-ownership or other ownership relationships? Schedule a personal, online, or telephone consultation.
If you wish to terminate co-ownership, you can achieve the termination and settlement of co-ownership by:
- An agreement on termination and settlement of co-ownership
- Filling a proposal for termination and settlement of co-ownership with the court.
In the interest of speed, cost savings, and maintaining good relationships, we generally recommend attempting to reach an agreement first.
- Spoluvlastník nesúhlasí s predajom pozemku, aké mám možnosti?
- What to watch out for when dissolving and settling the joint ownership?
Invitation to Conclude an Agreement on Termination and Settlement of Co-Ownership
If an agreement cannot be reached informally, we recommend that co-owners send a registered proposal for an agreement on termination and settlement of co-ownership. You can propose the method of settlement, for example, by:
- Selling the land and dividing the proceeds, or
- Paying off the co-owner and acquiring the land into sole ownership,
- The co-owner paying you off,
- The property remaining in co-ownership of only part of the original co-owners, etc. (if you buy only the shares of part of the co-owners, do not forget the statutory pre-emption right of the co-owner),
- Dividing the common property into several separate parts.
In the case of divisible land, you can achieve settlement by actual division of the land. A geometric plan will be required for the division.
You can offer co-owners several settlement alternatives that are acceptable to you.
In cases where co-owners conclude an agreement on termination and settlement of co-ownership, various options for settling relationships to the common property come into consideration compared to cases where the court decides on the common property.
In the invitation, we recommend informing co-owners that if an agreement is not reached, you are determined to turn to the court, which may involve costs for the recipients of the invitation and may lead to their obligation to pay the costs of the proceedings, including legal costs.
V prípade záujmu Vám výzvu na uzavretie dohody o zrušení a vyporiadaní podielového spoluvlastníctva radi vypracujeme.
Essentials of the Agreement on Termination and Settlement of Co-Ownership
If the subject of settlement is movable property, the law does not specify the essentials of the agreement in detail. If the subject of settlement is immovable property in co-ownership, the Civil Code prescribes a written form for the agreement on termination and settlement of co-ownership.
The basic essentials of the agreement on termination and settlement of co-ownership are:
- Definition of the co-owners who conclude the agreement, whereby all co-owners of the given property must conclude the agreement
- Definition of the common property
- Decision on the termination of co-ownership
- The manner in which the co-owners decided to settle the co-ownership
- Other essentials according to the circumstances of the specific case (e.g., who will submit the proposal for registration of ownership rights in the cadastre, the deadline for handing over shares of withdrawing co-owners, the deadline for payment, etc.)
If the subject of settlement is immovable property in co-ownership, the agreement on termination and settlement of co-ownership must incorporate all essentials required by the legal order according to the Cadastre Act and, in the case of apartments, also according to the Act on Ownership of Apartments and Non-Residential Premises.
When is it possible to divide the land?
The agreement on termination and settlement of co-ownership must not be contrary to the law. For example, if co-owners want to settle co-ownership by dividing the common land into several separate plots, they must comply with legal limits for land fragmentation.
In general, land can be divided in built-up areas of municipalities. The prohibition on fragmentation applies to agricultural and forest land. According to the Law on Certain Measures for the Arrangement of Ownership to Land, based on a legal act or court decision on the settlement of joint ownership or a decision on inheritance, no division of existing land can occur if the resulting land parcel is smaller than 3,000 m2for agricultural land or smaller than 5,000 m2for forest land.
Of course, it is necessary to consider whether, given the size, shape, location, etc., the division would not lead to depreciation.
What If One of the Co-Owners Is Deceased?
The agreement on termination and settlement of co-ownership can be complicated if one of the co-owners is deceased. In such a case, you can contact the heirs to submit a proposal for additional inheritance proceedings. Or you can yourself (as a person with a legal interest in the inheritance) submit a motion for additional inheritance proceedings.
In case of unidentified owners , it is sometimes possible to conclude an agreement on termination and settlement of co-ownership with the Slovak Land Fundwhich manages the land of unidentified owners.
O niektorých ďalších špecifických situáciách pri zrušení a vyporiadaní podielového spoluvlastníctva si prečítajte here
What We Can Do for You?
- Personal, online, or telephone consultation on the agreement on termination and settlement of co-ownership or other real estate issues
- Sending an invitation to conclude an agreement to co-owners
- Drafting and/or commenting on the agreement on termination and settlement of co-ownership
- Drafting a lawsuit for termination and settlement of co-ownership and representation in court proceedings
- Representation in disputes between co-owners