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Article 217. The Moment of the Transfer to the Buyer of a Share in the Right of Shared Ownership In Accordance with An Agreement

A share in the right of shared ownership shall be transferred to the buyer through an agreement from the moment of concluding the agreement, unless the agreement of the parties stipulates otherwise.

The moment of transfer of a share in the right of shared ownership in accordance with the agreement which is subject to state registration or notarisation, shall be determined in accordance with paragraph 2 of Article 238 of this Code.

Article 218. Division of Property Which is in the Shared Ownership and Appropriation of a Share Out of It

1. The property which is in shared ownership may be divided between its participants by an agreement between them.

2. A participant in shared ownership shall have the right to claim the appropriation of his share out of common property.

3. Where participants in shared ownership fail to reach an agreement on the methods and conditions of dividing the common property or appropriation of the share of one of them, a participant in shared ownership shall have the right to claim the appropriation of his share out of the common property, in kind.

When the appropriation of a share in kind is not allowed by legislative acts or it is impossible without unreasonable damage to the property which is in the common ownership, the owner who is appropriating, shall have the right to be paid by the other participants in shared ownership for the value of his share.

4. The disproportion of the property which is appropriated in kind to a participant in the shared ownership on the basis of this Article, to his share in the right of ownership shall be eliminated by payment of appropriate amount of money or by other compensation.

The payment to a participant in shared property by the other owners of compensation instead of appropriating his share in kind, shall be allowed upon his consent. In the cases where the share of certain owner is minor, and it may not be realistically appropriated and he has not any substantial interest in the use of the common assets, the court may in the case of the absence of consent of that owner, compel the other participants in shared ownership to pay him compensation.

5. With the receipt of compensation, in accordance with paragraphs 3 and 4 of this Article, the owner shall lose the right to his share in the common property.

6. Where the non-expedience of division of common property or the appropriation of a share out of it in accordance with the rules outlined in paragraphs 3 - 5 of this Article are obvious, the court shall have the right to adopt the decision to sell the property through a public auction with the subsequent distribution of the received amount between the participants in common property in proportion to their shares.

Article 219. Joint Common Property

1. Joint common property shall exist in the following forms:

1) the common property of spouses;

2) the common property of a peasant (farmer's) farm;

3) the common property to privatised housing.

2. Legislative acts may stipulate any other types of the joint common property.

3. The joint common ownership shall be established and it shall exist, unless an agreement between its participants stipulates otherwise.

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