HOW TO BUY OUT A SHARE IN AN APARTMENT | Property Division
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In this video, I'll discuss a situation where an owner has a share in a residential property, but they don't live there and have no significant interest in using it.
In such cases, it's possible to buy out the share from the owner, but certain conditions must be met.
Notice of Intent to Sell a Share
If an owner wishes to sell their share, they must notify the other owners, offering to buy out the share under certain conditions.
If they disagree, the owner can sell the share to a third party.
Preemptive Right of Purchase
If the owner is willing to buy out the share but is unsatisfied with the price, they can go to court to determine the terms of the transaction.
The court may order a forensic examination to determine the value of the share.
Division of Property in Kind
Division of property in kind is impossible if the owner's share is insignificant and they have no significant interest in using the property.
In this case, the owner can be forcibly dispossessed of their share.
Forced Sale of a Share in a Residential Premises
In this video, we will discuss the possibility of forcibly selling a share in a residential premises if the other owner refuses to provide a place to live.
If occupancy is denied, the court may deem the share insignificant and forcibly purchase it from the other owner.
Conditions for a Forced Sale of a Share
To forcefully sell a share, it is necessary to prove that the person has no significant interest in using the property, does not have another residential premises, and cannot reside in the current premises.
In the video, we will also discuss arguments that can be used to forcefully sell a share, including the inability to live in the residential premises and the lack of a significant interest in using the property.
Requirements for a Forced Sale of a Share
In the case of a forced sale of a share, the court may determine the redemption value of the property based on a market value report and recognize ownership of the share after payment of compensation. In some cases, the court may also require the other owner to pay the value of the share.
I emphasize that the forced sale of a share in a residential property can be a convenient way to resolve housing issues if the other owner refuses to provide a place to live.
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Contact information:
Civil cases (WhatsApp): https://wa.me/79647463020
Email: [email protected]
Criminal cases (WhatsApp/Viber): https://wa.me/79144729595
Email: [email protected]
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