Division Of Property

The legislation of the Russian Federation presupposes the existence of common and shared ownership of various property, these norms are described in Chapter 16 “Common Property” of the Civil Code of the Russian Federation. This article establishes that the right of ownership may belong not only to one person, but also to several persons at once. In this case, shares, expressed as a percentage, belonging to each person can be established in share ownership. The possession, use and disposal of such property is carried out jointly by all the right holders by their general consent.

The need to fairly share the common property between its owners always entails an independent assessment of the market value of this property. This situation often arises in the following cases:

Liquidation of the company;

The withdrawal of one of the right holders from among the equity owners of the property;

Sale of ownership interest (including through public auction);

The allocation of shares in the common property at the request of the copyright holder;

Divorce and divorce of spouses:

In all these cases, only an independent appraisal of property, carried out in the current market conditions, can establish the objective value of both the entire property and the value of the share in the ownership of this property. Such an assessment will serve as an objective guide for right holders in the process of sharing common property.

If the share owners have a general agreement and agree on the choice of the appraiser, then an appeal to an independent appraiser on their part may be voluntary. If there are disagreements between the rights holders, the court can choose the appraiser and assign an assessment (in this case, the results of the assessment will be mandatory for the transaction with the assessed property).

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Possible ways to divide property:

The division of property can be carried out in two forms:

Section in kind (when the assessed property allows for physical separation without prejudice to its full value).

The section with the payment of monetary compensation (when the physical division of property without prejudice to its full value is impossible and the assignment of a share in the right of ownership is compensated by a cash payment).

In the first case, the task of the appraiser will be to determine the market value of each appraisal object that is part of the property being valued, and the division of the property complex into separate objects must be made by the owners.

In the second case, an assessment is made of the market value of the share, which should be equal to the fair compensation paid to the right holder upon the loss (waiver) of the right of ownership. The physical division of property does not occur. This approach is used in the division of real estate, complexes with inseparable technical, technological and physical connections, separate holistic objects (objects). The division of such property is either physically impossible or impractical for economic reasons, since in the case of the division and violation of physical (organizational) connections, the total cost of the parts will be significantly less than the value of the whole property complex.

FAQ

Question:

For the division of real estate, my former husband ordered an estimate of the cost of an apartment and a country house, but I do not agree with the cost indicated in this report. How can I prove that the cost is incorrect?

Answer:

In this case, first it is better to try to agree with the former husband on the re- evaluation of real estate subject to division, and this time you should choose the appraiser together and jointly act as customers under an agreement with the appraisal company. This will allow both parties to be equally confident in the objectivity of the appraiser. If there is no agreement, then it is necessary to insist on an examination of the controversial evaluation report in order to certify the reliability of the evaluation result. The report should be examined by a self-regulatory organization of appraisers, of which the appraiser is a member, who signed this report.

 

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