Partition deed

Partition agreement – If a partition agreement is adopted, the co-owners of a property declare to the land registry that they wish to divide the property they own into co-ownership shares. This creates special or part ownership, which is allocated to the individual co-owners after the property has been divided. The co-ownership that existed until then is completely cancelled by the division in the land register. The objectives of the partition contract are to determine the co-ownership shares, the purpose of use of the individual premises and which rooms are in special ownership and which parts of the building are in common ownership.

Partition agreement at a glance: Establishment of the condominium through the contract

2 owners and one wants to sell. The first question on everyone’s mind when dealing with this issue is “Can I sell my share of the house?” or “Can the other co-owner sell his/her share of the house or land?”. Common questions are:

  • What is meant by co-ownership share?
  • Who owns the house?
  • Can you sell co-ownership?
  • What is meant by a declaration of division?

These are the most important things you need to know about the partition agreement first:

  • Co-owners of a property declare that they wish to divide the property owned by them into co-ownership shares
  • The special or partial ownership thus created shall be allocated to the co-owners after the subdivision
  • The co-ownership still existing to date is cancelled by the division
  • Objectives of the partition agreement: The determination of the co-ownership shares, the determination of the purpose of use of the rooms and which parts are in the individual ownership and which are in the common ownership.

Read more on the subject of fractional ownership and community of heirshere.

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