PROPORTION - WHAT IS IT?

The property for sale does not constitute full ownership, only a part, i.e., a proportion of it.

The sale of a proportion occurs when two or more people are simultaneously owners of the same property, however, only one intends to sell the corresponding share, in a private process or when only one of the parties is insolvent.

The seller may only be the owner of a part of the property for several reasons, but the most common are the division of an inheritance or the purchase of a property by couples who are not married or who are married under the separation of property regime.

Co-ownership or joint ownership exists when two or more people are simultaneously holders of the right of property over the same asset.

Do all co-owners have the same percentage/share of the asset?

An asset can have two (or more) owners, but these do not have to be owners in equal percentages. One of them may be the owner of 66.66% (or a fraction of ²/₃) of a property and the other owner of only 33.33% (a fraction of ¹/₃) of the same property, for example.

What are the rights of co-owners?

Co-owners jointly exercise all the same rights that belong to a single owner. In addition, any of the co-owners may enjoy the asset.

What are the duties of co-owners?

Similarly to the rights, co-owners have the same duties that a single owner would have. That is, the payment of the Municipal Property Tax (IMI), in proportion to their share.