Joint ownership is an increasingly common form of property ownership, whether the property is purchased by multiple people, inherited, or acquired following a separation. Flexible and accessible, it offers many advantages, but also comes with certain limitations that it is essential to understand before committing to it.<\/p>\n
Our real estate agency in Paris's 16th arrondissement<\/a>, our CENTURY 21 Auteuil Immobilier and Auteuil Seine offices will explain how joint ownership works, its advantages, its risks, and best practices for buying, managing, or selling a property owned by multiple parties.<\/p>\n Joint ownership is a legal situation in which at least two people become joint owners of the same real property, without a physical division of their shares. Each co-owner holds a share proportional to their financial contribution, but all co-owners collectively own the entire property.<\/p>\n This rule applies automatically in several situations:<\/p>\n Joint ownership is often chosen for its simplicity: there are no specific formalities and no special legal entity to establish, unlike with an SCI.<\/p>\n In the case of joint ownership, all decisions regarding the property must be made in accordance with specific rules:<\/p>\n Each co-owner must contribute to the expenses, repairs, taxes, insurance, and debts in proportion to their share.<\/p>\n Buying as joint owners has several advantages:<\/p>\n This solution is particularly popular among unmarried couples or those in civil partnerships because it is easy to set up.<\/p>\n Co-owners can finance their purchase in various ways:<\/p>\n The shares are calculated based on each person's actual contribution (property value, notary fees<\/a>, construction work, etc.) and included in the notarized deed.<\/p>\n Please note<\/strong> : First-time homebuyers are eligible for an interest-free loan (PTZ), even when purchasing a property as joint owners.<\/p>\n A joint ownership agreement is strongly recommended to avoid disputes. It allows you to:<\/p>\n This agreement must be drawn up by a notary when real property is involved. It may be entered into for a renewable term of 5 years or for an indefinite term.<\/p>\n Day-to-day management requires good relations among co-owners. Appointing a manager under the agreement greatly simplifies management.<\/p>\n To sell the entire property, the unanimous consent of the co-owners is generally required. However, if one of them blocks the sale, the other co-owners representing at least two-thirds of the ownership interests may bring the matter before a court. Pursuant to Article 815-5-1 of the Civil Code, the judge may then authorize the sale in order to resolve the deadlock. Once this authorization is obtained, the notary is responsible for notifying all co-owners of the decision.<\/p>\n Each co-owner may freely withdraw from the joint ownership, unless there is a temporary agreement. The co-owner may:<\/p>\n If the co-owners cannot reach an agreement, they may request a judicial partition.<\/p>\n The co-owners must pay:<\/p>\n In the event of a sale, each person is taxed individually on the real estate appreciation<\/a> calculated based on its own share.<\/p>\n Are you looking to buy, manage, or sell a property held in joint ownership? Our CENTURY 21 Auteuil Immobilier and CENTURY 21 Auteuil Seine offices, located in Paris\u2019s 16th arrondissement, can assist you with appraising a co-ownership share or a property, preparing for a joint purchase, organizing a sale of jointly owned property\u2014even in the event of a dispute\u2014as well as connecting you with the necessary professionals, such as notaries or lawyers.\u00a0<\/p>\n Our team is here to assist you with all your real estate projects. Contact us at 01 42 15 16 21 or 01 56 07 16 21, or by email: auteuil@century21.fr<\/a> or auteuilseine@century21.fr<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Comprendre l’indivision : achat, gestion, risques et solutions pour acheter ou vendre un bien \u00e0 plusieurs.<\/p>","protected":false},"author":0,"featured_media":2265,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conseils"],"acf":[],"yoast_head":"\nWhat is joint ownership of real estate?<\/h2>\n
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How does joint ownership of real estate work?<\/h2>\n
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Why buy a property as joint owners?<\/h2>\n
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How do you finance a joint purchase?<\/h2>\n
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How Can You Secure Joint Ownership Through an Agreement?<\/h2>\n
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How do you manage a property held in joint ownership?<\/h2>\n
Without an agreement, the rules are strict:<\/p>\n\n
How do you sell a property held in joint ownership?<\/h2>\n
How can you end joint ownership or buy out a partner\u2019s share?<\/h2>\n
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How can you end joint ownership or buy out a partner\u2019s share?<\/h2>\n
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How can our CENTURY 21 Auteuil and Auteuil Seine offices help you?<\/h2>\n