What steps can be taken to manage it and what solutions can be found to get out of it?

When a property is held by multiple owners, co-ownership is the situation. This is a common occurrence.

When buying a home together as a couple, co-ownership is advantageous due to its simplicity. The percentage acquired by an individual is determined by their contribution when they make a purchase.

The presence of multiple heirs in succession is a common situation for this type of situation. The heirs have the opportunity to co-own all the deceased's property, with a representative share of their rights.

The property does not have any negative aspects.

The most crucial decisions must be made by the co-distributors, either through a 2/3 majority or unanimously as required. Blocking situations can occur when there are disagreements or when there are multiple co-owners who may live far away from each other. Joint ownership after a divorce or when the property has been transmitted in joint ownership over several generations is especially susceptible to this.

Furthermore, the law stipulates that no one can be coerced into continuing joint ownership. In the event that one of the co-owners desires to sell their share, their co-owners have first priority in redeeming it. However, if they are unable or do not desire to buy it back. Selling the property to a third party after a long process is the only option.

A'share' instead of an assignment is what occurs when one of the co-owners recovers the share of the others through compensation. The fiscal cost of sharing is the right to share. 2.5% of the undivided property's total value is used to calculate this. As of January 1, 2024, the right to partition is lowered by 1.1% for partitions following a divorce or breach of PACS.

It is possible to steer clear of these situations of co-ownership frequently. As an illustration, anticipating the transmission of his heritage throughout his lifetime through shared donations. Each child is given a unique lot, and sharing is not permitted. Indivision will be avoided by doing so.

Signing a co-ownership contract is a way to secure co-ownership. This is aimed at coordinating the management of the co-ownership. Therefore, the co-owners will be able to arrange the payment of the fees. If there is only one co-owner living in the property, consider adding a co-ownership manager or providing compensation. A notary must draw up this contract if it is a property.

As you have come to understand, it is advisable to anticipate and select the most appropriate legal framework to reduce the risk of conflicts related to co-ownership. To determine the best strategy for your situation, it's important to seek advice from your notary and heritage advisor, whether you have chosen or suffered from co-ownership.