Joint ownership, also known as common ownership or common property, has different individuals in charge of the same property. The property can be divided in different ways, but usually each owner has a percentage of the property. In the following lines we will discuss the division of common property and the right of use.
Division of a common thing
When it comes to the division of common property, there are several options. One of these is to physically divide the property, but this is not always possible or practical. Another option is to sell the property and split the proceeds between the owners. However, the latter may not be desirable if some of the owners want to keep the property.
A common solution for property division is to divide the property into different parts; each owner will have exclusive rights to one or more parts.
For example, in a condominium complex, each unit generally belongs to an individual owner. On the other hand, the common areas, such as the swimming pool, gym and parking lot belong to all the owners as a whole.
The division of the property may be determined by the percentage of ownership held by each owner, or by agreement between the owners. For example, if there are three owners, they could agree that each has exclusive rights to one-third of the property.
Right of use
In addition to the division of common property, joint ownership also implies the right to use the property. The right of use can be exclusive or shared, and can be determined in several ways.
Exclusive use
If an owner has exclusive use of a part of the property, he has the right to use that part without interference from other owners. For example, in a condominium complex, each owner normally has exclusive use of his or her unit, but shared use of the common areas.
Sharing
If an owner has shared the use of a portion of the property, he must share that portion with other owners. This can create problems if there are disagreements about how the shared part should be used.
For example, if two homeowners share a backyard, one of them may want to plant a garden. However, the other may want to use the space for a barbecue area. In these situations, it is important that the owners reach an agreement on how the shared space will be used.
Restrictions on use
In some cases, the right of use may be restricted. For example, in a condominium complex, there may be rules about the use of common areas, such as the pool, gym or parking lot.
These rules may limit the hours of the day when facilities may be used. Or they may prohibit certain activities such as smoking or listening to loud music.
Enforcing common property rights
When it comes to enforcing common property rights, there are several strategies to apply. If an owner interferes with another owner’s exclusive right to use his or her share of the property, the affected owner may take legal action.
These actions may include seeking a court order to prevent the interfering owner from using the shared portion of the property. In addition, damages may be sought for any damage caused by the interference.
If there are disagreements about how the shared part of the property should be used, the owners can try to reach an agreement through negotiation or mediation.
If this is unsuccessful, they may have to take legal action to resolve the dispute.
Sharing a property can create challenges when it comes to the division of common property and the right of use.
However, it is best to understand the options for dividing the property and determining the right of use. Also, work together to reach agreements on shared use so that owners can successfully meet the challenges of shared ownership.
