Common property

Common property implies a single material object and a plurality of subjects. That is, it is assumed that the property is owned by several people at the same time. Relations relating to common property are legitimate for virtually any entity. For example, it can be legal and physical persons, municipal and state structures. According to the right of ownership, persons who own common property can dispose, make profit, exploit their belongings in accordance with their goals and desires. However, here are some nuances. Common ownership assumes that its owners will exercise the powers given to them jointly.

Let's draw a conclusion. Owning common property is not a new form of property. The rules governing cases where there is one object and many entities are based on the existing property right. Relevant laws are necessary to protect the interests and rights of participants who own joint property.

There are different types of common property. In particular, it is:

• Property, which involves the determination of shares. In this case, the legal norms are aimed at regulating the relations that arise with respect to common property belonging to a multitude of entities in the specified shares. On the basis of what facts does this type of property usually arise ? Most often these are various civil-law transactions. For example, buying and selling, creating an economic object, inheritance, which can not be divided, making an indivisible thing. The structure of common property also includes income, output and other fruits of exploitation, property belonging to a multitude of participants. In this case, they are distributed among the objects in accordance with the size of their shares, unless another principle of division in the agreement is stipulated. It is worth noting that for legal entities, as well as municipal entities, the right to own only equity assets is available;
• Joint common ownership implies that there is one object, as well as many entities, but the shares of participants are not defined. The law is called upon to regulate the relations arising in the possession of joint property. Co-owners can dispose of their belongings and exploit them in accordance with their goals and desires. At the same time, the use of property must occur together, with the consent of all parties. The right of common joint property implies that each participant can make deals concerning a common thing, unless otherwise specified in the agreement. In this case, the contract of the owner, concluded without the consent of other persons, can be recognized as invalid. If it is planned to carry out the division of property, it is first necessary to determine the share of each participant. If the agreement does not provide otherwise, the property is divided into equal shares. It should be noted that both joint and shared ownership of property is available to civilians. Common joint property can appear due to various facts. For example, this is the property of the spouses, the joint construction of the house, inheritance and much more.

Common ownership implies the consistency of actions of all participants. Relevant legal norms are necessary in order to protect the interests and rights of all parties. In the possession of common property it is assumed that each participant receives a certain benefit. At the same time, the disposal of property must take place in such a way as to satisfy the common goals of all persons participating in the agreement.