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Today, the abundance of life and its temptations await us everywhere. And often a potential debtor comes to this conclusion: "I Want everything at once!". And in the end, even…

Continue reading →

How to sell a share in an apartment

Much has changed since the days of the legendary hero Bulgakov, but the housing issue is still particularly acute. Problems with the sale,lease and division of real estate are still relevant. Therefore, Mirsovetov decided to shed light on the process of selling shares in the apartment.
A little about shared real estate
Shared ownership is widespread in large cities and megacities. As a result of privatization of municipal real estate and its “division” owners of one apartment can be from two to seven people. These are either completely strangers (neighbors in the communal apartment), or relatives (parents and their children), or even former relatives (husband and wife divorced). Sooner or later, one of the co-owners has a quite logical desire to “leave”, to sell his share. So do low-income citizens who sell any part of their large apartment in order to obtain a large amount of money. And buyers are fast enough. They are people who do not have the financial ability to purchase a separate home (there is no possibility to take a loan, for example), therefore agree to buy a “personal corner” in someone else’s apartment. It is easy to understand that this problem is particularly acute for residents of the capital and regional centers, where housing is expensive by leaps and bounds. However, the prospect of becoming a co-owner of a share in the apartment is not so rosy. This type of property is fraught with significant disadvantages. Without the consent of all co-owners can not register new residents and even make repairs. Significantly complicated and the procedure of sale and lease of its share in the apartment.

Share allocation procedure
In order to sell a share in the apartment, you must not go through a quick and troublesome procedure of allocation of shares. That is, theoretically, after privatization, one of the owners owns a certain share. At the moment, this share looks quite virtual. So the procedure of allocation of shares concretizes this concept. The fraction can be ideal, that is expressed fractional. For example, in a two-bedroom apartment two co-owners, and the share of each of them½. The share in kind involves the transfer of ownership to each owner of one of the rooms, and the ownership of common areas (corridor, kitchen, pantry) remains shared. Moreover, when allocating a share, the fact of joint ownership is not annulled. Simply each share becomes personal, and neighbors remain co-owners.

There is also a procedure for the division of joint property. This is often a complex and time-consuming process that results in the annulment of common property. The owner of the property becomes one person.

Allocation of shares is important to issue a notary, an oral decision has no legal force. Allocation of shares can be carried out in a regulated manner. But, as a rule, co-owners conflict, can not find a common language and make a mutually beneficial decision. Therefore, the allocation of shares is usually carried out through the court. A copy of the statement of claim is easy to find on the Internet. As a rule, the application is submitted by the co-owner who is most interested in the result. The statement of claim shall be accompanied by copies of identification and title documents for housing. Litigation can last longer than six months, especially if the other co-owners of housing do not attend the meeting. However, in many cases, the allocation of shares through the court is the only possible solution.

The procedure for the sale of shares in the apartment
After the allocation of shares in the apartment, the process of buying and selling it is almost the same as the usual transaction. Except for a few details. By law, the primary right to purchase shares in the apartment have all its owners. Technically, this right can be exercised as follows. All co-owners should be acquainted with the offer to purchase a share. It should indicate the technical characteristics of the property and its value. Within a month from the date of reading this document, the co-owners decide to buy the proposed property or refuse. In order to avoid problems in the future, letters of offer should be sent by registered letter with notification. So if necessary, you will have on hand the evidence for the court.

There is a strong belief that the neighbors-owners can somehow prevent the decision of one of the co-owners to sell a share in the apartment. In fact, they have only two options — to buy out this share or refuse to buy. There is, of course, minor mischief on the part of the owners, but legal hindrances to the realization of your desire, they can not create.

After the 30-day period from the date of familiarization of co-owners, you can sell your share. By law, in case of refusal of all owners, you can sell the share in the apartment to any person of your choice. However, the price of the transaction must be neither less nor more than stated in the offer. Otherwise, within three months, any of the co-owners can challenge and judicially cancel the sale transaction.

Very often, in order to avoid the procedure of notification of neighbors, the seller does not sell the share, but makes a donation. In this type of transaction to notify co-owners is not necessary, the transaction is cheaper and faster. However, if you give a share in the apartment to a person who is not related to you, this transaction can also be challenged. However, for this the plaintiff will have to prove that the transfer of money in the donation took place, but given the lack of kinship between the donor and the gifted chances of the plaintiff to win the case as much as possible.

The share in the apartment can be sold in installments or with deferred payments. These nuances need to be covered as much as possible in the contract, and the seller is interested in this, first of all.

Sale of shares in the apartment is not so much difficult as troublesome process. Because of misunderstanding between co-owners it can stretch for a long time. However, the most difficult will be the procedure of allocation of shares in the apartment.

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