When a property is inherited among several siblings, or when a divorce involves shared assets, a complex legal situation often arises. At Bufete BBM Abogados, a firm founded in 1990 with a solid track record in Santander, we help our clients resolve the problems arising from joint ownership. If you find yourself trapped in a shared property that only generates expenses and emotional strain, this practical guide will explain your legal rights in detail.
What is a co-ownership (proindiviso)?
A co-ownership (proindiviso), also known in legal terms as a community of property or joint ownership, refers to a situation in which ownership of a right or a property belongs jointly to several people, without any physical division of the parts. This means that none of the co-owners possesses a specific physical area (such as a particular room or floor of a house); rather, each holds an abstract percentage or share of participation in the whole asset. This scenario is extremely common in the field of property and inheritance law in Cantabria.
Can I sell my share of the co-ownership without the agreement of the other co-owners?
The legal answer is a resounding yes. Under the Spanish Civil Code, no co-owner is obliged to remain in the community and each has the full right to freely dispose of, transfer or mortgage their share of participation. You may therefore legitimately sell your undivided part of the property, whether to another of the co-owners or to a third party or specialist external company, without needing the prior authorisation or consent of the rest of the heirs or owners. This route is ideal for people who have received an inheritance and prefer to detach themselves from the management problems or associated debts.
The co-owners’ right of pre-emption
Although you are completely free to sell your share, you must bear in mind that the law protects the other members of the joint ownership through the right of pre-emption. This principle is divided into two specific rights: the right of first refusal (tanteo) and the right of redemption (retracto). If you decide to sell your part of the co-ownership to an outsider, the remaining co-owners have the priority right to buy your share for the same price agreed with the third party. If you do not duly notify them of the transaction before signing, they may exercise the legal right of redemption, cancelling the sale to the third party in order to take ownership themselves by paying the corresponding amount.
“At BBM Abogados we defend the interests of individuals and businesses in Santander and Cantabria with a close, rigorous and fully transparent approach. If you have doubts about your case, we help you see it clearly.”
What happens if the co-owners fail to reach an agreement?
When management disagreements arise (for example, if a co-owner lives in the property and does not want to leave it or sell it, or if the heirs are not on speaking terms), it is necessary to seek legal alternatives. If a voluntary sale agreement or an amicable dissolution of the co-ownership is not feasible, the judicial route must be taken by means of the action for the division of common property (actio communi dividundo). The court will determine that the asset is physically indivisible and will order it to be put up for public judicial auction, subsequently distributing the proceeds among the co-owners according to their percentages —an outcome that usually entails a significant loss in the market value of the property.
How a lawyer handles a co-ownership in Santander
At BBM Abogados we are experts in mediating and unblocking joint-ownership disputes in Santander and Cantabria. Our added value lies in the speed and effectiveness of our management, sparing you prolonged emotional and financial strain. We assess the viability of purchasing your inheritance or co-ownership share, negotiate with the conflicting parties and, if necessary, handle the division of the common property.
We understand how uncomfortable it is to deal with ex-partners in divorce proceedings or relatives in complex inheritances; that is why you can grant our lawyers a power of representation so that we take care of everything without you having to attend tense meetings. We always seek swift solutions from a place of closeness and mutual trust.
Do you have a problem with a shared property? Contact BBM Abogados today and regain your financial peace of mind. Our team will offer you the prompt and effective assistance you need.