Joint ownership according to the law of property
Last updated: 16 January 2024.
In a joint ownership according to the law of property, it is a joint ownership that are being registered, not common operation or interest.
A joint ownership according to the law of property is a type of enterprise where two or more persons (natural persons or legal persons, public or private) can own one or several asset items. A joint ownership is not a legal person, like for instance a limited company, a general partnership or an association. The co-owners are responsible, thus the enterprise itself does not have any rights or obligations.
The co-owners have shared liability, and own one undivided interest each, i. e. one part each, given in percentage or fraction. The co-owners altogether own 100 per cent of all assets in the enterprise.
Teams that have received articles of association determined by a land consolidation court, and where the statues have provisions for a ownership team with co-owners, are to be registered in the Central Coordinating Register for Legal Entities as a joint ownership.