Is it possible to buy shared parts of a co-owned property?

It is possible for a part owner of a co-owned property to buy a communal part of the property, but it appears that in practice this involves a number of lengthy procedures.

First of all, the owners' syndicate must be informed so that it can prepare an appraisal of the lot in question.

Then, a surveyor will value it: he will divide the new lot into thousandths to calculate how the thousandth parts of the co-owned property will subsequently be divided up.

The proposal to buy will then be included on the agenda at the next general meeting, and the decision must be made by a two-thirds majority of the votes cast by the property co-owners.

The same rule will apply to the change in the way that the shared costs are divided up.

Finally, the decision will be final once a period of two months has elapsed (article 42 of the law of 10 July 1965), during which the co-owners can object to the decision made.

It is important to point out that the surveyor's and solicitor's fees involved in drafting a new description of the property must be paid by the person acquiring the co-owned part of the property.