Legal disputes can become protracted due to their seriousness. Among them is the dissolution of joint tenancy. There is a saying that “every head is a world of its own”, and here it is evident. Agreeing with others to enter into a partnership, business, or sell property can generate conflicts.

In the dissolution of a joint tenancy, the factors mentioned above come into play. Before going deeper, the word proindiviso is defined as an asset or property that is shared by 2 or more individuals, it is a concept related to the right of ownership. An example of proindiviso is the joint ownership of real estate.

This type of legal process can be aggravated when, for various reasons, a consensus cannot be reached among the co-owners. Another example is the inheritance of a property. In this case, each of the parties may take a different view.

A dissolution of joint ownership is the process in which the joint ownership status of a property is terminated. The properties can be assets such as homes, monetary inheritances, property partnership, among others. The objective of this right-related route is that each owner can obtain his or her rightful share of the property, avoiding divisions between the parties.

Legal regulations that contemplate the dissolution of joint ownership

Every nation needs a legal framework on which citizens can rely to resolve their conflicts peacefully. Spain is no exception, as it has multiple laws in this regard. In some instruments, the dissolution of the joint tenancy is directly contemplated. Below, you will find the specific articles that promote a solution to this issue.

• Article 402 of the Civil Code. “The division of the common thing may be made by the interested parties, or by arbitrators or amiable compositeurs, appointed at the will of the participants. In the case of being carried out by arbitrators or amiable compositeurs, they must form parts proportional to the right of each one, avoiding as much as possible the supplements to cash”.

 

• Article 404 of the Civil Code. “When the thing is essentially indivisible, and the co-owners do not agree that it be awarded to one of them indemnifying the others, it shall be sold and its price shall be divided”.

The aforementioned articles are centered on the figure of the agreement, understanding the importance of open and constructive dialogue between the parties to find a solution. When talking about material assets such as a house, or even acres of land, effective communication is necessary.

It is worth noting that the regulations highlight the figure of the sale of the property in common if a satisfactory agreement between the parties is not reached. However, there are other avenues that can be resorted to depending on the seriousness of the situation, although this can be time-consuming and financially detrimental to the parties in common.

Causes for the dissolution of a joint venture

There are some causes for the dissolution of proindiviso. These can be by consolidation, in which the property is given in full to one of the co-owners, while the latter must indemnify the other co-owners financially for their corresponding share.

Another cause of dissolution of proindiviso can be the division. In this case, the benefits of the property are divided equally for each owner. This applies to real estate, monetary inheritances, large tracts of land, among other situations.

Ways to dissolve a joint-ownership interest

There are two ways to successfully complete a dissolution of a joint tenancy. The first is in a peaceful and amicable manner with a verbal and written agreement between the parties. On the other hand, the second is through the courts, where a court will determine the resolution of the case, always based on the legal regulations.

If you are looking for help in this or other areas related to law, you can access the following link.