Joint Ownership

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Joint Ownership

 

in Soviet law, the right to property that belongs to two or more people.

Joint ownership may be personal, as when several persons jointly own a residential building, or it may be public or socialist in form. Joint ownership may be divided into shares or held in common. Under joint ownership apportioned by shares, each participant (owner) has a definite share of the right of joint ownership. Possession, use, and disposition of the owned object is determined with the consent of all owners; in case of dispute, such matters are determined by court decision on a suit brought by any owner. Expenses incurred in the course of joint ownership, such as taxes and repairs, are distributed among the owners proportionally with their shares. Each owner has the right to transfer his share to another person. When a share of joint ownership is offered for sale, the other participants have a preferential right of purchase.

With ownership in common there are no shares, and each owner is owner of all of the property together with the others. Property held by spouses, by a kolkhoz household, and by an individual peasant household is recognized as property held in common.

References in periodicals archive ?
# YOU are both entitled to an equal share of the house if it is jointly owned. Raise an action requiring the property to be sold and split between you - this is called a division and sale.
Such an act may lead to a violation of Article 24 of the Jointly Owned Properties Law, which states: "Subject to the association constitution, unit owners and occupiers and their guests must use the common areas in a way that does not compromise the rights of others to use those areas or disturb others or put their safety or the safety of the property at risk."
Sempra Renewables, a subsidiary of Sempra Energy, jointly owns all or part of seven wind farms and one battery installation in seven states.
According to the particulars of offence on count 1, the accused David John Conford on 29 February 2012 at Raju Electricals Bureau on Siaka Stevens Street Freetown obtained the sum of five hundred pounds sterling equivalent to two million five hundred thousand Leones from Sonia Michael Warner worker of Department for International Development (DFID) based in Nigeria by falsely pretending that he would build a house at Lakka in Freetown to be jointly owned by two of them which is known to be false.
Boulder, Colorado-based Amicus is jointly owned and managed by its member companies of solar installers, integrators, EPCs and developers.
has closed the sale of a 50-percent interest in Superior Pipeline Company to SP Investor Holdings, which is jointly owned by OPTrust and funds managed or advised by Partners Group, for $300 million.
Medicinal cannabis company MYM Nutraceuticals Inc (CSE:MYM) (CSE:MYM.CN) (OTC:MYMMF) reported on Monday the launch of a Memorandum of Understanding (MoU) for the formation of new, jointly owned company in Colombia with NEWCANNA SAS, a Colombian medical cannabis company.
27 of 2007 Concerning Ownership of Jointly Owned Real Property in the Emirate of Dubai, or the Jointly Owned Real Property Law, provides the necessary framework within which the relationship between co-owners within these developments are regulated.
Liberty's parent firm Vega Telecoms - now jointly owned by PLDT Inc.
NORDIC BUSINESS REPORT-July 13, 2016-Bonava announces sale of building rights through it jointly owned company Stora Ursvik KB for SEK222m
In the case of owners and tenants of jointly owned properties in high-rise apartments in Dubai, the insurance that covers the building and the common areas usually remains in the name of the developer.
The plan for the development of the 23 jointly owned oilfields is aimed at bringing about an added production capacity of 550,000 barrels of crude oil per day.