It turns out that the consent of other owners is not required for the transaction, but there is one important condition.
Ukrainians can independently manage their share of the property. However, the law requires following a specific procedure to prevent the transaction from being canceled in court later.
This was reported by RBC-Ukraine, citing the press service of the Ministry of Justice of Ukraine.
Also read: Divorce and money: a lawyer named the property that cannot be divided in case of marriage dissolution.
What the law says about types of ownership
According to current legislation, property owned by multiple people simultaneously is considered joint ownership. It can be of two types:
- common share – when it is clearly defined what share belongs to each owner (for example, 1/2 or 1/3).
- common joint – when the shares are not defined (as is usually the case with spouses).
It is important to understand that a co-owner does not own a specific room “in kind,” but rather a right to a share of the entire property as a whole.
Is consent needed for sale
According to the Civil Code, Ukrainians have the right to independently manage their share of the property.
This means that it can be sold, gifted, or bequeathed.
In general, the consent of other co-owners for the alienation of the property share is not required. However, in the case of a sale, the rule of preemptive right applies.
Key points about the rules of sale:
- preemptive right – co-owners have an advantage over other buyers (they can buy your share at the same price and under the same conditions);
- written notification – other property owners must be officially notified (preferably through a notary) of the intention to sell the share and indicate the price (or other existing conditions);
- waiting periods – if it concerns real estate, co-owners have one month from the date they receive the notification to make a decision (for movable property, this period is 10 days);
- right of choice – if several co-owners wish to buy the share, the individual chooses to whom to sell it.
When the preemptive right does not apply
The legislation also provides for cases where it is not necessary to notify other owners and wait for their decision.
This applies to such transactions:
- formalizing a gift or exchange agreement;
- concluding a lease or lifetime maintenance agreement;
- drafting a will or inheritance agreement;
- contributing a share to the authorized capital of a company.
Risks of violating the procedure
If you sell your share to a third party without notifying the co-owners, they have the right to go to court.
In general, the right to demand the transfer of the buyer’s rights to them lasts for one year.
In this case, the plaintiff must deposit the full value of the share that the buyer was supposed to pay under the contract into the court’s deposit.
“The transfer of a co-owner’s preemptive right to purchase a share in common share ownership to another person is not allowed,” the Ministry of Justice concluded.
Recall that we previously discussed the status of joint ownership in civil marriages, as well as ways to avoid “property misunderstandings” and claims (in case of a possible breakup in the future).
Additionally, we explained how to legally sell housing if a child is registered there.
Also read whether property will be confiscated if fines from the TCC are not paid for a long time.
