Methods to exercise rights over commonly-owned property

The law provides that real property or movable property may be owned by two or more entities or individuals. Co-ownership consists of shared ownership and joint ownership. Persons who share the ownership of real property or movable property shall enjoy the ownership in proportion to the amount of their shares. Persons who jointly own real property or movable property shall enjoy the ownership jointly.

Co-owners may divide the commonly-owned property.

The co-owners may decide on the method for division through consultation. If they fail to reach an agreement, the real property or movable property owned by them can be divided and its value will not be reduced because of such division, the actual property shall be divided; if it is difficult to divide the property or its value will be reduced because of such division, the division shall be made after the property is converted into money, or auctioned, or sold.