Have you inherited a property and can’t reach an agreement with your co-owners on its sale? We’ve got a guide to help you resolve the issue.

Imagine inheriting an old family house in picturesque Banská Štiavnica. You and your co-owners have different ideas on what to do with the property. One wants to renovate it and rent it to tourists, another prefers to sell it, and the third isn’t willing to discuss it at all. Does this sound familiar? So, what now?

Agreement – the easiest solution
If the co-owners decide to cooperate, the simplest and quickest way to resolve the situation is through an agreement. Reaching a consensus on selling or using the property offers several benefits. For example, the sale can be completed, and the purchase price divided among all owners within a month. Plus, when all co-owners agree, the property can be sold at the best possible price. On the other hand, if one co-owner doesn’t accept the sale and only their share of the unresolved property is sold, the price will be significantly lower.

When a lawyer can help
If an agreement can’t be reached and the situation continues to escalate, it’s time to involve a lawyer. A lawyer will guide you through the process, starting with explaining your options. They will also draft an official letter that outlines the options for the uncooperative co-owner and points out that, if no agreement is reached, legal action will follow. Often, such an intervention will convince the uncooperative co-owner to cooperate.

What if the letter doesn’t work? Then the court steps in
It’s rare, but sometimes even a lawyer can’t convince an uncooperative co-owner. In these cases, the court steps in. Here are a few important things to know:

Court proceedings can take 2 years or more, which is a long time to wait for a resolution.

Another downside is the high costs, which can reach thousands of euros. While you will need to cover these costs upfront, after the court’s decision, you have the right to have them reimbursed by the uncooperative co-owner.

What’s the procedure when the court decides?
The court has several ways to resolve co-ownership. Let’s take a look:

First, the property can be divided. This is the best option when the property can be split according to co-ownership shares and can be used effectively after division. Apartments are typically unsuitable for division.

The court may also assign the property to one co-owner if it can’t be divided. The assigned co-owner will then have to buy out the others.

Finally, if the property can’t be divided and no one wants it, the court will order its sale. The proceeds will be fairly divided among the co-owners based on their shares. If the co-owners can’t agree on the sale even after the court’s decision, an executor may handle the sale—but this can be expensive and will be at the expense of the non-cooperative party.

Rejection of the proposal
The court will only reject a proposal in rare cases. This can happen if the property is unsellable or if there are reasons that prevent its division, such as a person living in the house with a severe illness. Once that person recovers, the court may again decide to dissolve the co-ownership.

Final advice – act as soon as possible
If you own a property with co-owners and no longer want to share it, the best course of action is to reach an agreement on what to do with it. If that’s not possible, a lawyer can help you find a solution. And if that doesn’t work, the court will definitively dissolve the co-ownership. The sooner you start, the sooner you can put this situation behind you.

Don’t hesitate—contact us today. With our help, you can quickly and effectively resolve co-ownership issues and reach a fair solution that brings peace and an equitable division of assets. Save time, money, and unnecessary stress.