Common property

Common property implies a singlematerial object and 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. Under the law of property, persons who own common property, may dispose of, make a profit, to operate the things they own, in accordance with their goals and desires. However, here there are some nuances. Common ownership implies that its owners will exercise their powers 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 in order to protect the interests and rights of participants who own joint property.

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

• Ownership, which involves a definitionshares. 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 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, production 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 share property is available;
• Joint common ownership implies thatthere is one object, as well as many entities, but the shares of participants are not defined. The law is designed 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 be carried out jointly, with the consent of all parties. The right of common joint ownership implies that each participant can make deals concerning a common thing, unless otherwise specified in the agreement. At the same time, the contract of the owner, concluded without the consent of other persons, can be recognized as invalid. If it is planned to divide the 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 ownership 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 property implies consistencyactions 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.