Property Investment Croatia | Co-ownership of a property in Croatia

Posted on July 29, 2012


Co-ownership is a situation in which several subjects appear as owners of one thing, in this case a real estate. In such cases the facility is not physically “divided,” but legally speaking “shared” in several parts of the total value. This means that an individual co-owner can not claim to have exclusive rights of management over the property, and no one can usurp a single part of the house/apartment, for example bedroom, kitchen and so forth.

Property can also be distributed differently, for example, by content, which would mean that one co-owner may have the right of disposition, and others for use of the property. Co-ownership creates a special community among individuals, and it can occur by legal affairs, decision of the authorities or by certain laws. The way in which they co-manage the property is agreed between them or by voting. Such situations often lead to disputes and because specific actions are necessary to maintain the property, and some emergency actions to prevent its deterioration or make a sale, the decision may come through the courts. A good idea to facilitate decision making is that all co-owners decide to appoint a joint manager of the property.

Each co-owner of can dispose of his part and that means he can sell it. In such cases other co-owners usually have a right of first-buy, but it is not an obligation.

via Property Investment Croatia | TRASA Real Estate Croatia – Part 3.

Posted in: Croatia